8-K
Helix Acquisition Corp. III (HLXC)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):January 22, 2026
HELIX ACQUISITION CORP. III
(Exact name of registrant as specified in its charter)
| Cayman Islands | 001-43069 | N/A |
|---|---|---|
| (State or other jurisdiction | (Commission File Number) | (I.R.S. Employer |
| of incorporation) | Identification No.) |
Cormorant Asset Management, LP
200 Clarendon Street, 52nd Floor
Boston, MA 02116
(Address of principal executive offices, including zip code)
(857) 702-0370
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities<br>Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange<br>Act (17 CFR 240.14a-12) |
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| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b)<br>under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c)<br>under the Exchange Act (17 CFR 240.13e-4(c)) |
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on<br><br> <br>which registered |
|---|---|---|
| Class A ordinary share, par value $0.0001 per share | HLXC | The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| ☒ | Emerging growth company |
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| ☐ | If an emerging growth company, indicate by check mark if<br>the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards<br>provided pursuant to Section 13(a) of the Exchange Act. |
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Item 1.01. Entry into Material Definitive Agreement.
On January 26, 2026, Helix Acquisition Corp. III (the “Company”) consummated its initial public offering (the “IPO”) of 17,250,000 Class A ordinary shares, par value $0.0001 per share (the “Class A Ordinary Shares”), including the issuance of 2,250,000 Class A Ordinary Shares as a result of the underwriter’s exercise in full of its over-allotment option. The Class A Ordinary Shares were sold at a price of $10.00 per share, generating gross proceeds to the Company of $172,500,000.
In connection with the IPO, the Company entered into the following agreements, forms of which were previously filed as exhibits to the Company’s Registration Statement on Form S-1 (File No. 333-291993) for the IPO, originally filed with the U.S. Securities and Exchange Commission (the “Commission”) on December 8, 2025 (as amended, the “Registration Statement”):
| ● | An Underwriting Agreement, dated January 22, 2026, by and<br>among the Company, Leerink Partners LLC and Oppenheimer & Co. Inc., a copy of which is attached as Exhibit 1.1 hereto and incorporated<br>herein by reference. |
|---|---|
| ● | A Letter Agreement, dated January 22, 2026 (“Letter<br>Agreement”), among the Company, the Company’s sponsor, Helix Holdings III LLC (the “Sponsor”) and<br>each of the officers and directors of the Company, a copy of which is attached as Exhibit 10.1 hereto and incorporated herein by reference. |
| --- | --- |
| ● | An Investment Management Trust Agreement, dated January 22,<br>2026, between the Company and Continental Stock Transfer & Trust Company, as trustee, a copy of which is attached as Exhibit 10.2<br>hereto and incorporated herein by reference. |
| --- | --- |
| ● | A Registration Rights Agreement, dated January 22, 2026, among<br>the Company, the Sponsor and the Holders signatory thereto, a copy of which is attached as Exhibit 10.3 hereto and incorporated herein<br>by reference. |
| --- | --- |
| ● | A Private Placement Shares Purchase Agreement, dated January<br>22, 2026 (the “Private Placement Shares Purchase Agreement”), between the Company and the Sponsor, a copy of which<br>is attached as Exhibit 10.4 hereto and incorporated herein by reference. |
| --- | --- |
| ● | An Administrative Services and Indemnification Agreement, dated January 22, 2026, between the Company and the Sponsor, a copy of which is attached as Exhibit 10.5 hereto and incorporated herein by reference. |
| --- | --- |
| ● | Indemnity Agreements, each dated January 22, 2026 (each, an “Indemnity Agreement”), between the Company and each of its officers and directors, substantially in the form attached hereto as Exhibit 10.6. |
The material terms of such agreements are fully described in the Company’s final prospectus, dated January 22, 2026, as filed with the Commission on January 23, 2026 (the “Prospectus”) and are incorporated herein by reference.
Item 3.02. Unregistered Sales of Equity Securities.
Simultaneously with the closing of the IPO, pursuant to the Private Placement Shares Purchase Agreement, the Company completed the private sale of 497,500 Class A Ordinary Shares (the “Private Placement Shares”) at a purchase price of $10.00 per Private Placement Share, to the Sponsor, generating gross proceeds to the Company of $4,975,000. The Private Placement Shares are identical to the Class A Ordinary Shares sold in the IPO, except that, so long as they are held by the Sponsor and its permitted transferees: (i) they may not, subject to certain limited exceptions, be transferred, assigned or sold until 30 days after the completion of a business combination and (ii) they are entitled to registration rights.
In addition, the Sponsor has agreed to waive its redemption rights with respect to the Private Placement Shares in connection with (i) the consummation of the Company’s initial business combination, or (ii) a shareholder vote to approve an amendment to the Company’s amended and restated memorandum and articles of association to modify the substance or timing of the Company’s obligation to redeem 100% of the Class A Ordinary Shares sold in the IPO if the Company has not consummated a business combination within 24 months of the closing of the IPO (or such other time period pursuant to an amendment to the Amended Charter (as defined below)) or with respect to any other material provisions relating to shareholders’ rights or pre-initial business combination activity.
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Item 5.02. Departure of Directors or CertainOfficers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 22, 2026, in connection with the IPO, Messrs. Mark C. McKenna and John Schmid (the “Directors”) were appointed to the board of directors of the Company (the “Board”). The Directors are independent directors. Effective January 22, 2026, Messrs. McKenna and Schmid were also appointed to the Board’s (i) Audit Committee, with Mr. Schmid serving as chair of the Audit Committee, (ii) Compensation Committee, with Mr. McKenna serving as chair of the Compensation Committee and (iii) Nominating and Corporate Governance Committee, with Mr. Schmid serving as chair of the Nominating and Corporate Governance Committee.
Following the appointment of the Directors, the Board is comprised of the following three classes: the term of office of the first class of directors, Class I, consisting of Mr. McKenna, will expire at the Company’s first annual general meeting of shareholders; the term of office of the second class of directors, Class II, consisting of Mr. Schmid and will expire at the Company’s second annual general meeting of shareholders; and the term of office of the third class of directors, Class III, consisting of Ms. Chen, the Company’s Chief Executive Officer and Chairperson of the Board, will expire at the Company’s third annual general meeting of shareholders.
In connection with their appointments to the Board, each Director entered into the Letter Agreement as well as an Indemnity Agreement with the Company. In addition, in December 2025, the Sponsor transferred 30,000 Class B ordinary shares, par value $0.0001 per share (the “Class B Ordinary Shares”), of the Company to each of Messrs. McKenna and Schmid for the same per-share price initially paid by the Sponsor.
Other than the foregoing, none of the Directors are party to any arrangement or understanding with any person pursuant to which they were appointed as directors, nor are they party to any transactions required to be disclosed under Item 404(a) of Regulation S-K involving the Company.
The foregoing descriptions of the Letter Agreement and the form of indemnity agreement do not purport to be complete and are qualified in their entireties by reference to the Letter Agreement and form of indemnity agreement, copies of which are attached as Exhibits 10.1 and 10.6 hereto, respectively, and are incorporated herein by reference.
Item 5.03. Amendments to Articles of Incorporationor Bylaws; Change in Fiscal Year
On January 22, 2026, in connection with the IPO, the Company filed its amended and restated memorandum and articles of association (the “Amended Charter”) with the Cayman Islands General Registry, effective the same day. The terms of the Amended Charter are set forth in the Registration Statement and are incorporated herein by reference. A copy of the Amended Charter is attached as Exhibit 3.1 hereto and incorporated herein by reference.
Item 8.01. Other Events.
A total of $172,500,000 comprised of the net proceeds from the IPO and the sale of the Private Placement Shares were placed in a U.S.-based trust account maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds in the trust account that may be released to the Company to pay its taxes and up to $100,000 of interest to pay dissolution expenses, the funds held in the trust account will not be released from the trust account until the earliest of (i) the completion of the Company’s initial business combination, (ii) the redemption of the Class A Ordinary Shares sold in the IPO (the “public shares”) if the Company is unable to complete its initial business combination within 24 months from the closing of the IPO, subject to applicable law or (iii) the redemption of any of the Company’s public shares properly tendered in connection with a shareholder vote to amend the Amended Charter (A) to modify the substance or timing of its obligation to allow redemption in connection with the Company’s initial business combination or to redeem 100% of the Company’s public shares if it does not complete its initial business combination within 24 months from the closing of the IPO or (B) with respect to any other provision relating to shareholders’ rights or pre-business combination activity.
On January 22, 2026, the Company effected a share capitalization with respect to the Company’s Class B Ordinary Shares of 718,750 shares thereof, resulting in the Company’s initial stockholders holding an aggregate of 4,312,500 Class B Ordinary Shares.
On January 23, 2026, the Company issued a press release announcing the pricing of the IPO, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K.
On January 27, 2026, the Company issued a press release announcing the closing of the IPO, a copy of which is attached as Exhibit 99.2 to this Current Report on Form 8-K.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
EXHIBIT INDEX
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HELIX ACQUISITION CORP. III | ||
|---|---|---|
| Date: January 27, 2026 | By: | /s/ Bihua Chen |
| Name: | Bihua Chen | |
| Title: | Chairperson and Chief Executive Officer |
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Exhibit 1.1
15,000,000 Class A Ordinary Shares
Helix Acquisition Corp. III
UNDERWRITING AGREEMENT
January 22, 2026
Leerink Partners LLC
1301 Avenue of the Americas, 5th Floor
New York, New York 10019
Oppenheimer & Co. Inc.
85 Broad Street
New York, New York 10004
Ladies and Gentlemen:
Helix Acquisition Corp. III, a Cayman Islands exempted company (the “Company”), proposes to sell to Leerink Partners LLC and Oppenheimer & Co. (each, an “Underwriter” and together, the “Underwriters”), 15,000,000 Class A ordinary shares, par value $0.0001 per share (the “OrdinaryShares”), of the Company (said Ordinary Shares to be issued and sold by the Company being hereinafter called the “UnderwrittenSecurities”). The Company also proposes to grant to the Underwriters an option to purchase up to 2,250,000 additional Ordinary Shares to cover over-allotments, if any (the “Option Securities” and, together with the Underwritten Securities, the “Securities”). Certain capitalized terms used herein and not otherwise defined are defined in Section 21 hereof.
On November 20, 2025, Helix Holdings III LLC, a Cayman Islands limited liability company (the “Sponsor”), paid $25,000 to cover certain of the Company’s offering and formation costs in exchange for 4,312,500 Founder Shares (as defined below). On December 1, 2025, the Sponsor surrendered 718,750 Founder Shares to the Company for no consideration, resulting in the Sponsor holding a total of 3,593,750 Founder Shares. On December 1, 2025, the Sponsor transferred 30,000 Founder Shares to each of Mark McKenna and John Schmid, resulting in the Sponsor holding a total of 3,533,750 Founder Shares. On January 22, 2026, the Company effected a share capitalization with respect to the Founder Shares of 718,750 Founder Shares, resulting in the Sponsor holding 4,252,500 Founder Shares, with up to 562,500 Founder Shares subject to forfeiture by the Sponsor depending on the extent to which the Underwriters’ over-allotment option is exercised.
The Company has entered into an Investment Management Trust Agreement, effective as of January 22, 2026, with Continental Stock Transfer & Trust Company, as trustee (the “Trustee”), in substantially the form filed as Exhibit 10.2 to the Registration Statement (the “Trust Agreement”), pursuant to which the proceeds from the sale of the Private Placement Shares and certain proceeds of the Offering (as defined below) will be deposited and held in a trust account (the “Trust Account”) for the benefit of the Company, the Underwriters and the holders of the Underwritten Securities and the Option Securities, if and when issued.
The Company has entered into a Securities Subscription Agreement, dated as of November 11, 2025, in the form filed as Exhibit 10.7 to the Registration Statement (the “Founder’s Purchase Agreement”), with the Sponsor, pursuant to which the Sponsor purchased an aggregate of 4,312,500 of the Company’s Class B ordinary shares, par value $0.0001 per share (including the Ordinary Shares issuable upon conversion thereof, the “Founder Shares”), for an aggregate purchase price of $25,000. Except as described in the Prospectus, the Founder Shares have the same terms as the Ordinary Shares.
The Company has entered into a Private Placement Shares Purchase Agreement, effective as of January 22, 2026, with the Sponsor, in substantially the form filed as Exhibit 10.4 to the Registration Statement (the “Share Subscription Agreement”), pursuant to which the Sponsor has agreed to purchase an aggregate of 475,000 Ordinary Shares (or 497,500 Ordinary Shares if the over-allotment option is exercised in full), at a price of $10.00 per Private Placement Share. Except as described in the Prospectus, the Private Placement Shares are identical to the Ordinary Shares sold in the Offering.
The Company has entered into a Registration Rights Agreement, dated as of January 22, 2026, with the Sponsor and the holders party thereto, in substantially the form filed as Exhibit 10.3 to the Registration Statement (the “Registration Rights Agreement”), pursuant to which the Company has granted certain registration rights in respect of the Ordinary Shares underlying the Founder Shares, the Ordinary Shares underlying the Private Placement Shares and the Ordinary Shares underlying the Private Placement Shares that may be issued upon conversion of working capital loans as described in the Prospectus.
The Company has caused to be duly executed and delivered a letter agreement, dated as of January 22, 2026 (the “Insider Letters”), by and among the Company, the Sponsor and each of the Company’s officers, directors, director nominees and advisor, in the form filed as Exhibit 10.1 to the Registration Statement.
The Company will enter into an Administrative Services and Indemnification Agreement, dated as of the date hereof, with the Sponsor, in substantially the form filed as Exhibit 10.8 to the Registration Statement (the “Administrative Services Agreement”), pursuant to which the Company will pay to the Sponsor an aggregate monthly fee of $6,458 per month for office space, utilities, administrative services and remote support services provided to members of the management team.
| 1. | Representations<br> and Warranties. |
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The Company represents and warrants to, and agrees with, the Underwriters as set forth below in this Section 1.
(a) The Company has prepared and filed with the Commission the Registration Statement (file number 333-291993) on Form S-1, including the related Preliminary Prospectus, for registration under the Act of the Offering and sale of the Securities. Such Registration Statement, including any amendments, financial statements, exhibits, and schedules thereto filed prior to the Execution Time, has become effective. The Company has filed one or more amendments thereto, including the related Preliminary Prospectus, each of which has previously been furnished to the Underwriters. The Company will file with the Commission the Prospectus in accordance with Rule 424(b). As filed, such Prospectus shall contain all information required by the Act and, except to the extent the Underwriters shall agree in writing to a modification, shall be in all substantive respects in the form furnished to the Underwriters prior to the Execution Time or, to the extent not completed at the Execution Time, shall contain only such specific additional information and other changes (beyond that contained in the latest Preliminary Prospectus) as the Company has advised the Underwriters, prior to the Execution Time, will be included or made therein. The Company has complied to the Commission’s satisfaction with all requests of the Commission for additional or supplemental information.
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(b) On the Effective Date, the Registration Statement did, and when the Prospectus is first filed in accordance with Rule 424(b) and on the Closing Date (as defined herein) and on any date on which Option Securities are purchased, if such date is not the Closing Date (each such date, a “settlement date”), the Prospectus (and any supplement thereto) will comply in all material respects with the applicable requirements of the Act; on the Effective Date and at the Execution Time, the Registration Statement did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; as of the Applicable Time and on the Closing Date and any settlement date, any individual Written Testing-the-Waters Communication did not conflict with the information contained in the Registration Statement or the Statutory Prospectus, complied in all material respects with the Act, when considered together with the Statutory Prospectus, and did not and will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not misleading; and on the date of any filing pursuant to Rule 424(b) and on the Closing Date and any settlement date, the Prospectus (together with any supplement thereto) will not include any untrue statement of a material fact or omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that the Company makes no representations or warranties as to the information contained in or omitted from the Registration Statement or the Prospectus (or any supplement thereto) in reliance upon and in conformity with information furnished in writing to the Company by or on behalf of the Underwriters specifically for inclusion in the Registration Statement or the Prospectus (or any supplement thereto), it being understood and agreed that the only such information furnished by the Underwriters consists of the information described as such in Section 8(b) hereof.
(c) The Statutory Prospectus, as of the Applicable Time and on the Closing Date and any settlement date, did not and will not contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that the Company makes no representations or warranties as to the information contained in or omitted from the Statutory Prospectus in reliance upon and in conformity with written information furnished to the Company by or on behalf of the Underwriters specifically for use therein, it being understood and agreed that the only such information furnished by or on behalf of the Underwriters consists of the information described as such in Section 8(b) hereof.
(d) The Company has filed with the Commission a Form 8-A (file number 001-43069) providing for the registration under the Exchange Act of the Securities, which registration is currently effective on the date hereof. The Ordinary Shares have been authorized for listing, subject to official notice of issuance and evidence of satisfactory distribution, on The Nasdaq Global Market (“Nasdaq”), and the Company knows of no reason or set of facts that is likely to adversely affect such authorization.
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(e) The Commission has not issued any order or, to the Company’s knowledge, threatened to issue any order preventing or suspending the effectiveness of the Registration Statement or the use of any Preliminary Prospectus, the Prospectus or any part thereof, and has not instituted or, to the Company’s knowledge, threatened to institute any proceedings with respect to such an order.
(f) (i) At the time of filing the Registration Statement and (ii) as of the Execution Time (with such date being used as the determination date for purposes of this clause (ii)), the Company was not and is not an Ineligible Issuer (as defined in Rule 405).
(g) The Company has not prepared, used or referred to, and will not, without the Underwriters’ prior written consent, prepare, use or refer to, any free writing prospectus.
(h) Prior to the later of (i) the expiration or termination of the option granted to the Underwriters in Section 2, (ii) the completion of the Underwriters’ distribution of the Underwritten Securities and (iii) the expiration of 25 days after the date of the Prospectus, the Company has not distributed and will not distribute any offering material in connection with the Offering and sale of the Offered Securities other than the Registration Statement, the Statutory Prospectus, the Prospectus and any Testing-the-Waters Communication.
(i) The Company has been duly incorporated and is validly existing as an exempted company in good standing under the laws of the Cayman Islands with full corporate power and authority to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Statutory Prospectus and the Prospectus and to enter into this Agreement, the Trust Agreement, the Founder’s Purchase Agreement, the Share Subscription Agreement, the Registration Rights Agreement, the Insider Letters, and the Administrative Services Agreement and to carry out the transactions contemplated hereby and thereby, and is duly qualified to do business as a foreign corporation and is in good standing under the laws of each jurisdiction that requires such qualification.
(j) There is no franchise, contract or other document of a character required to be described in the Registration Statement or Prospectus, or to be filed as an exhibit thereto, which is not described or filed as required (and the Statutory Prospectus contains in all material respects the same description of the foregoing matters contained in the Prospectus); and the statements in the Statutory Prospectus and the Prospectus under the headings “Principal Shareholders,” “Certain Relationships and Related Party Transactions” and “Description of Securities” insofar as such statements summarize legal matters, agreements, documents or proceedings discussed therein, are in all material respects accurate and fair summaries of such legal matters, agreements, documents or proceedings. There are no business relationships or related party transactions involving the Company or any other person required by the Act to be described in the Registration Statement or Prospectus that have not been described as required.
(k) The Company’s authorized equity capitalization is as set forth in the Statutory Prospectus, the Prospectus and the Amended and Restated Memorandum and Articles of Association of the Company (the “Amended and Restated Memorandum and Articles of Association”). The capital stock of the Company conforms in all material respects to the description thereof in the Statutory Prospectus, the Registration Statement and the Prospectus.
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(l) All issued and outstanding shares of the Company have been duly and validly authorized and issued and are fully paid and non-assessable (meaning that no additional sums may be levied in respect of such shares on the holder thereof by the Company); and none of such shares were issued in violation of the preemptive rights of any holders of any security of the Company, rights of first refusal or similar contractual rights granted by the Company. The offers and sales of the outstanding Ordinary Shares were at all relevant times either registered under the Act, the applicable state securities and blue sky laws or, based in part on the representations and warranties of the purchasers of such Ordinary Shares, exempt from such registration requirements. The holders of outstanding shares of the Company are not entitled to preemptive rights, rights of first refusal or other rights to subscribe for the Securities arising by operation of law or under the Amended and Restated Memorandum and Articles of Association; and, except as set forth in the Statutory Prospectus and the Prospectus, no options, warrants, pre-emptive rights, rights of first refusal or other rights to purchase, agreements or other obligations to issue, or rights to convert any obligations into or exchange any securities for, shares of capital stock of or other ownership interests in the Company are authorized or outstanding.
(m) The Securities have been duly authorized and when executed by the Company and countersigned and issued and delivered against payment by the Underwriters pursuant to this Agreement, will be validly issued.
(n) The Ordinary Shares have been duly authorized and, when executed by the Company and countersigned, and issued and delivered against payment for the Securities by the Underwriters pursuant to this Agreement (including the registration of the share issuance in the Company’s register of members as fully paid), will be validly issued, fully paid and non-assessable (meaning that no additional sums may be levied in respect of such Ordinary Shares on the holder thereof by the Company) and free of pre-emptive rights, rights of first refusal and similar rights.
(o) The Company has no debt securities or preferred stock that is rated by any “nationally recognized statistical rating organization” (as that term is defined by the Commission for purposes of Rule 436(g)(2) under the Act).
(p) Except as set forth in the Statutory Prospectus, the Prospectus and the Amended and Restated Memorandum and Articles of Association of the Company, no holders of any securities of the Company or any rights exercisable for or convertible or exchangeable into securities of the Company have the right to require the Company to register any such securities of the Company under the Act or to include any such securities in a registration statement to be filed by the Company.
(q) No securities of the Company have been sold by the Company or by or on behalf of, or for the benefit of, any person or persons controlling, controlled by, or under common control with the Company from its inception through and including the date hereof, except as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus. Neither the Company nor any of its affiliates has, prior to the date hereof, made any offer or sale of any securities that are required to be “integrated” pursuant to the Act with the offer and sale of the Underwritten Securities pursuant to the Registration Statement.
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(r) The Founder Shares are duly authorized, validly issued, fully paid non-assessable (meaning that that no additional sums may be levied in respect of such shares on the holder thereof by the Company).
(s) The Private Placement Shares, when delivered upon the consummation of the Offering, will be duly executed, authenticated and issued, and will constitute valid and binding obligations of the Company, enforceable against the Company in accordance with their terms, except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
(t) This Agreement has been duly authorized, executed and delivered by the Company and is a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
(u) The Trust Agreement has been duly authorized, executed and delivered by the Company, and is a valid and binding agreement of the Company, enforceable against the Company, in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
(v) The Founder’s Purchase Agreement has been duly authorized, executed and delivered by the Company and the Sponsor, and is a valid and binding agreement of the Company and, to the knowledge of the Company, the Sponsor, enforceable against the Company and, to the knowledge of the Company, the Sponsor in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
(w) The Share Subscription Agreement has been duly authorized, executed and delivered by the Company and, to the knowledge of the Company and the Sponsor, is a valid and binding agreement between the Company and the Sponsor, enforceable against the Company and, to the knowledge of the Company, the Sponsor, respectively, in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
(x) The Registration Rights Agreement has been duly authorized, executed and delivered by the Company and is a valid and binding agreement of the Company, enforceable against the Company in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
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(y) The Insider Letters executed by the Company, the Sponsor and, to the Company’s knowledge, each executive officer, director, director nominee and advisor of the Company, has been duly authorized, executed and delivered by the Company, the Sponsor and, to the Company’s knowledge, each such executive officer, director, director nominee and advisor, respectively, and is a valid and binding agreement of the Company, the Sponsor and, to the Company’s knowledge, each such executive officer, director, director nominee and advisor, respectively, enforceable against the Company, the Sponsor and, to the Company’s knowledge, each such executive officer, director, director nominee and advisor, respectively, in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
(z) The Administrative Services Agreement has been duly authorized, executed and delivered by the Company and the Sponsor, and is a valid and binding agreement of the Company and the Sponsor, enforceable against the Company and the Sponsor in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.
(aa) The Sponsor has agreed to make loans to the Company in the aggregate amount of up to $300,000 pursuant to an amended and restated promissory note, in the form annexed as Exhibit 10.6 to the Registration Statement (the “Insider Loans”). The Insider Loans do not bear any interest and are repayable by the Company on the earlier of June 30, 2026 or the consummation of the Offering.
(bb) Except as otherwise disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus, subsequent to the respective dates as of which information is given in the Registration Statement, the Statutory Prospectus and the Prospectus: (i) there has been no Material Adverse Effect (as defined below); (ii) the Company has not incurred any material liability or obligation, indirect, direct or contingent, including without limitation any losses or interference with its business from fire, explosion, flood, earthquakes, accident or other calamity, whether or not covered by insurance, or from any strike, labor dispute or court or governmental action, order or decree, that are material, individually or in the aggregate, to the Company, or has entered into any transactions not in the ordinary course of business; and (iii) there has been no dividend or distribution of any kind declared, paid or made by the Company on any class of its capital stock.
(cc) No labor dispute with the employees of the Company exists or, to the knowledge of the Company, is imminent, and the Company is not aware of any existing or imminent labor disturbance by the employees of any of its principal suppliers, manufacturers, customers or contractors, which, in either case, would result in a Material Adverse Effect.
(dd) The Company is not and, after giving effect to the offering and sale of the Securities and the application of the proceeds thereof as described in the Statutory Prospectus and the Prospectus, will not be an “investment company” as defined in the Investment Company Act of 1940, as amended.
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(ee) No consent, approval, authorization, filing with or order of any court or governmental agency or body is required in connection with the transactions contemplated herein or in the Trust Agreement, the Founder’s Purchase Agreement, the Share Subscription Agreement, the Registration Rights Agreement, the Insider Letters or the Administrative Services Agreement except for the registration under the Act and the Exchange Act of the Securities and such as may be required under state securities or blue sky laws of any jurisdiction in connection with the purchase and distribution of the Securities by the Underwriters in the manner contemplated herein and in the Statutory Prospectus and the Prospectus.
(ff) The Company is not in violation or default of (i) any provision of its Amended and Restated Memorandum and Articles of Association, by-laws or other organizational document, (ii) the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or other agreement, obligation, condition, covenant or instrument to which it is a party or bound or to which its property is subject, or (iii) any (x) statute, law, rule, regulation, or (y) judgment, order or decree of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Company; except in the case of clauses (ii) and (iii) above for any such conflict, breach or violation that would not, individually or in the aggregate, be reasonably expected to have a material adverse effect on the financial condition, prospects, earnings, business, operations, assets, liabilities or properties of the Company, taken as a whole, whether or not arising from transactions in the ordinary course of business (a “Material Adverse Effect”).Neither the issue and sale of the Securities nor the consummation of any other of the transactions herein contemplated nor the fulfillment of the terms hereof or of the Trust Agreement, the Founder’s Purchase Agreement, the Share Subscription Agreement, the Registration Rights Agreement, the Insider Letters or Administrative Services Agreement will conflict with, result in a breach or violation of, or imposition of any lien, charge or encumbrance upon any property or assets of the Company pursuant to, (i) the Amended and Restated Memorandum and Articles of Association, (ii) the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or other agreement, obligation, condition, covenant or instrument to which the Company is a party or bound or to which the Company’s property is subject, or (iii) any statute, law, rule, or regulation, judgment, order or decree applicable to the Company of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having jurisdiction over the Company or any of its respective properties; except in the case of clauses (ii) and (iii) above for any such conflict, breach or violation that would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.
(gg) No holders of securities of the Company have rights to the registration of such securities under the Registration Statement. There are no persons with registration rights or other similar rights to have any securities registered for sale pursuant to the Registration Statement or otherwise registered for sale or sold by the Company under the Act pursuant to this Agreement, other than those rights that have been disclosed in the Registration Statement, the Statutory Prospectus, Free Writing Prospectus and the Prospectus and have been waived.
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(hh) The historical financial statements, including the notes thereto and the supporting schedules, if any, of the Company included in the Registration Statement, Free Writing Prospectus, the Statutory Prospectus and the Prospectus comply as to form in all material respects with Regulation S-X under the Act and present fairly the financial condition, results of operations and cash flows of the Company as of the dates and for the periods indicated, comply as to form with the applicable accounting requirements of the Act and have been prepared in conformity with generally accepted accounting principles applied on a consistent basis throughout the periods involved (except as otherwise noted therein). The summary financial data set forth under the caption “Summary Financial Data” in the Statutory Prospectus, Prospectus and Registration Statement fairly present, on the basis stated in the Statutory Prospectus, Prospectus and Registration Statement, the information included therein. The Company is not party to any off-balance sheet transactions, arrangements, obligations (including contingent obligations), or other relationships with unconsolidated entities or other persons that may have a material current or future effect on the Company’s financial condition, changes in financial condition, results of operations, liquidity, capital expenditures, capital resources, or significant components of revenues or expenses. The statistical, industry-related and market-related data included in the Registration Statement, the Statutory Prospectus and the Prospectus are based on or derived from sources that the Company reasonably and in good faith believes are reliable and accurate, and such data agree with the sources from which they are derived. There are no pro forma or as adjusted financial statements that are required to be included in the Registration Statement, the Statutory Prospectus or the Prospectus in accordance with Regulation S-X that have not been included as so required. To the Company’s knowledge, no person who has been suspended or barred from being associated with a registered public accounting firm, or who has failed to comply with any sanction pursuant to Rule 5300 promulgated by the Public Company Accounting Oversight Board (“PCAOB”), has participated in or otherwise aided the preparation of, or audited, the financial statements, supporting schedules or other financial data filed with the Commission as a part of the Registration Statement, the Statutory Prospectus and the Prospectus. All disclosures contained in the Registration Statement, the Free Writing Prospectus, Statutory Prospectus or the Prospectus regarding “non-GAAP financial measures” (as such term is defined by the rules and regulations of the Commission) comply with Regulation G of the Exchange Act and Item 10 of Regulation S-K, to the extent applicable.
(ii) No action, suit or proceeding, inquiry or investigation by or before any court or governmental agency, authority or body or any arbitrator involving the Company or, to the knowledge of the Company, the Sponsor, or the property of either of them is pending or, to the knowledge of the Company, threatened that (i) could reasonably be expected to have a material adverse effect on the performance of this Agreement or the consummation of any of the transactions contemplated hereby by the Company or (ii) could reasonably be expected to have a Material Adverse Effect, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
(jj) The Company has operated its business in a manner compliant in all material respects with all United States federal, state, local and non-United States privacy, data security and data protection laws and regulations applicable to the Company’s collection, use, transfer, protection, disposal, disclosure, handling, storage and analysis of personal data. The Company has taken reasonable steps to maintain the confidentiality of its personally identifiable information, protected health information, consumer information and other confidential information of the Company, its Subsidiaries and any third parties in its possession (“Sensitive Company Data”). The tangible or digital information technology systems (including computers, screens, servers, workstations, routers, hubs, switches, networks, data communications lines, technical data and hardware), software and telecommunications systems used or held for use by the Company (the “Company IT Assets”) are adequate and operational for, in accordance with their documentation and functional specifications, the business of the Company and its Subsidiaries as now operated and as currently proposed to be conducted as described in the Registration Statement, the Free Writing Prospectus, Statutory Prospectus and the Prospectus. The Company has not suffered or incurred any security breaches, compromises or incidents with respect to any Company IT Asset or Sensitive Company Data, except where such breaches, compromises or incidents would not reasonably be expected to, singly or in the aggregate, result in a Material Adverse Effect; and there has been no unauthorized or illegal use of or access to any Company IT Asset or Sensitive Company Data by any unauthorized third party. The Company has not been required to notify any individual of any information security breach, compromise or incident involving Sensitive Company Data.
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(kk) WithumSmith+Brown, PC (“Withum”), who have certified certain financial statements of the Company and delivered its report with respect to the audited financial statements and schedules included in the Registration Statement, Statutory Prospectus and the Prospectus, is a registered public accounting firm that is independent with respect to the Company within the meaning of the Act and the Exchange Act and the applicable published rules and regulations thereunder and the rules of the PCAOB, (ii) in compliance with the applicable requirements relating to the qualification of accountants under Rule 2-01 of Regulation S-X under the Act and (iii) a registered public accounting firm as defined by the PCAOB whose registration has not been suspended or revoked and who has not requested such registration to be withdrawn.
(ll) To the extent required by Rule 13a-15(e) under the Exchange Act, the Company will maintain “disclosure controls and procedures” (as defined under Rule 13a-15(e) under the Exchange Act) and a system of internal accounting controls sufficient to provide reasonable assurance that: (i) transactions are executed in accordance with management’s general or specific authorization; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with generally accepted accounting principles as applied in the United States and to maintain accountability for assets; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
(mm) The Company maintains effective “disclosure controls and procedures” (as defined under Rule 13a-15(e) under the Exchange Act), to the extent required by such rule.
(nn) Solely to the extent that the Sarbanes Oxley Act of 2002, as amended, and the rules and regulations promulgated by the Commission thereunder (the “Sarbanes Oxley Act”) have been applicable to the Company, there is and has been no failure on the part of the Company to comply in all material respects with the applicable provisions of the Sarbanes Oxley Act. The Company has taken all necessary actions to ensure that it is in compliance with all provisions of the Sarbanes-Oxley Act that are in effect and with which the Company is required to comply.
(oo) There is and has been no failure on the part of the Company or, to the knowledge of the Company, any of the Company’s officers or directors, in their capacities as such, to comply with (as and when applicable), and immediately following the Effective Date the Company will be in compliance with, Nasdaq Marketplace Rule IM-5605. Further, there is and has been no failure on the part of the Company or, to the knowledge of the Company, any of the Company’s officers or directors, in their capacities as such, to comply with (as and when applicable), and immediately following the Effective Date the Company will be in compliance with, the phase-in requirements and all other provisions of Nasdaq corporate governance requirements set forth in the Nasdaq Marketplace Rules.
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(pp) There are no transfer, stamp, issue, registration, documentary or other similar taxes, duties, fees or charges under U.S. federal law or the laws of any state, or any political subdivision thereof, or under the laws of any non-U.S. jurisdiction, required to be paid in connection with the execution and delivery of this Agreement or the issuance or sale by the Company of the Securities.
(qq) The Company has filed all tax returns (including U.S. federal, state and non-U.S.) that are required to be filed by it or has requested extensions thereof (except in any case in which the failure so to file would not have a Material Adverse Effect) through the date hereof and has paid all taxes required to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing is due and payable, except for any such tax, assessment, fine or penalty that is currently being contested in good faith and for which adequate reserves required by generally accepted accounting principles have been created with respect thereto or as would not have a Material Adverse Effect, except as set forth in or contemplated in the Registration Statement, Statutory Prospectus and the Prospectus (exclusive of any supplement thereto). The charges, accruals and reserves on the books of the Company in respect of any income and corporation tax liability for any years not finally determined are, in conformity with GAAP, adequate to meet any assessments or re-assessments for additional income tax for any years not finally determined, except to the extent of any inadequacy that would not result in a Material Adverse Effect.
(rr) Until the earlier of the consummation of the Company’s initial Business Combination or until such earlier time upon which the Company is required to be liquidated, the Company will maintain directors’ and officers’ insurance (including, without limitation, insurance covering the Company, its directors and officers for liabilities or losses arising in connection with the Offering, including, without limitation, liabilities or losses arising under the Act, the Exchange Act or any similar rule, and any applicable foreign securities laws).
(ss) The Company possesses all licenses, certificates, permits and other authorizations issued by the appropriate federal, state or foreign regulatory authorities necessary to conduct its business, and the Company has not received any notice of proceedings relating to the revocation or modification of any such license, certificate, authorization or permit that, singly or in the aggregate, if the subject of an unfavorable decision, ruling or finding, would have a Material Adverse Effect, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
(tt) None of the Company, the Sponsor or, to the knowledge of the Company, any director, director nominee, officer, agent, employee, affiliate or other person associated with or acting on behalf of the Company: (i) has used any corporate funds for any unlawful contribution, gift, entertainment or other unlawful expense relating to political activity; (ii) has made any direct or indirect unlawful contribution or payment to any official of, or candidate for, or any employee of, any federal, state or foreign office from corporate funds; (iii) has made any bribe, unlawful rebate, payoff, influence payment, kickback or other unlawful payment; or (iv) is aware of or has taken any action, directly or indirectly, that would result in a violation by such persons of the OECD Convention on Bribery of Foreign Public Officials in International Business Transactions, the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (collectively, the “FCPA”) or any similar law or regulation to which the Company, any director, director nominee, officer, agent, employee, affiliate or other person associated with or acting on behalf of the Company is subject. The Company, the Sponsor and, to the knowledge of the Company, its directors, director nominees, officers, agents, employees and affiliates have each conducted the business of the Company and their own businesses on behalf of the Company in compliance with the FCPA and any applicable similar law or regulation and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance therewith.
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(uu) The operations of the Company are and have been conducted at all times in compliance with applicable financial record-keeping and reporting requirements, including those of the Bank Secrecy Act, as amended by Title III of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (USA PATRIOT Act), the Currency and Foreign Transactions Reporting Act of 1970, as amended, the applicable money laundering statutes of jurisdictions where the Company conducts business, the applicable rules and regulations thereunder and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the knowledge of the Company, threatened.
(vv) None of the Company, the Sponsor or, to the knowledge of the Company, any director, director nominee, officer, agent or affiliate of the Company is currently subject to any sanctions administered by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”) or any similar sanctions imposed by any other body, governmental or other, to which any of such persons is subject (collectively, “other economic sanctions”); and the Company will not directly or indirectly use the proceeds of the Offering, or lend, contribute or otherwise make available such proceeds to any subsidiary, joint venture partner or other person or entity, for the purpose of financing the activities of any person currently subject to any sanctions administered by OFAC or other economic sanctions.
(ww) Except as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus, the Company (i) does not have any material lending or other relationship with any bank or lending affiliate of the Underwriters and (ii) does not intend to use any of the proceeds from the sale of the Securities hereunder to repay any outstanding debt owed to any affiliate of the Underwriters.
(xx) To the knowledge of the Company, all information contained in the questionnaires (the “Questionnaires”) completed by the Sponsor and, to the knowledge of the Company, the Company’s officers, directors and director nominees and provided to the Underwriters, is true and correct in all material respects, and the Company has not become aware of any information that would cause the information disclosed in the Questionnaires completed by the Sponsor or the Company’s officers, directors and director nominees to become inaccurate and incorrect.
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(yy) Except as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus, prior to the date hereof, the Company has not selected any specific Business Combination target (each, a “Target Business”) and has not, nor, to its knowledge, has anyone on its behalf, initiated any substantive discussions with any prospective Target Business or had any substantive discussions, formal or otherwise, with respect to a possible initial Business Combination, or undertaken, or engaged or retained any agent or other representative to undertake, any research, diligence, evaluations or similar activities to identify, locate or contact any suitable acquisition candidate.
(zz) Except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect, and except as described in the Registration Statement, the Statutory Prospectus and the Prospectus, to the knowledge of the Company, (i) there has been no security breach or other security compromise of or relating to any of the Company’s information technology and computer systems, networks, hardware, software, data, trade secrets, or equipment; and (ii) the Company is presently in compliance with all applicable laws, regulations, contractual obligations and internal policies relating to data privacy and security or personally identifiable information.
(aaa) Except as described in the Registration Statement, the Statutory Prospectus and the Prospectus, there are no claims, payments, arrangements, contracts, agreements or understandings relating to the payment of a brokerage commission or finder’s, consulting, origination or similar fee by the Company or the Sponsor with respect to the sale of the Securities hereunder or any other arrangements, agreements, or understandings of the Company, the Sponsor or any officer or director of the Company or their respective affiliates, that may affect the Underwriters’ compensation, as determined by the Financial Industry Regulatory Authority, Inc. (“FINRA”).
(bbb) Except as described in the Registration Statement, the Statutory Prospectus and the Prospectus, the Company has not made any direct or indirect payments (in cash, securities or any other “item of value” as defined in Rule 5110(c)(3) of FINRA’s Conduct Rules): (i) to any person, as a finder’s fee, consulting fee, or otherwise, in consideration of such person raising capital for the Company or introducing to the Company persons who raised or provided capital to the Company; (ii) to any person that, to the Company’s knowledge, has been accepted by FINRA as a member of FINRA (a “Member”); or (iii) to any person or entity that, to the Company’s knowledge, has any direct or indirect affiliation or association with any Member, within the twelve months prior to the Effective Date, other than payments to the Underwriters pursuant to this Agreement.
(ccc) Except as described in the Registration Statement, the Statutory Prospectus and the Prospectus, during the period beginning 180 days prior to the initial filing of the Registration Statement and ending on the Effective Date, no Member and/or any person associated or affiliated with a Member has provided any investment banking, financial advisory and/or consulting services to the Company.
(ddd) Except as disclosed in the FINRA Questionnaires provided to the Underwriters, to the Company’s knowledge no officer, director, or beneficial owner of any class of the Company’s securities (whether debt or equity, registered or unregistered, regardless of the time acquired or the source from which derived) (any such individual or entity, a “Company Affiliate”) is a Member or a person associated or affiliated with a Member.
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(eee) Except as disclosed in the FINRA Questionnaires provided to the Underwriters, to the Company’s knowledge, no Company Affiliate is an owner of shares or other securities of any Member (other than securities purchased on the open market).
(fff) No Company Affiliate has made a subordinated loan to any Member.
(ggg) Except as described in the Registration Statement, the Statutory Prospectus and the Prospectus, no proceeds from the sale of the Underwritten Securities (excluding underwriting compensation as disclosed in the Registration Statement, Statutory Prospectus and the Prospectus) will be paid by the Company to any Member, or any persons associated or affiliated with a Member.
(hhh) The Company has not issued any shares, warrants or other securities, or granted any options, directly or indirectly, to anyone who is a potential underwriter in the Offering or a related person (as defined by FINRA rules) of such an underwriter within the earliest of the 180-day period prior to the initial filing date and the initial confidential submission date of the Registration Statement.
(iii) No person to whom securities of the Company have been privately issued within the 180-day period prior to the initial filing date of the Registration Statement has to the Company’s knowledge any relationship or affiliation or association with any Member. Except as disclosed in the Registration Statement, the Free Writing Prospectus, Statutory Prospectus and the Prospectus, the Company (i) does not have any material lending or other relationship with any banking or lending affiliate of the Underwriters and (ii) does not intend to use any of the proceeds from the sale of the Securities to repay any outstanding debt owed to any affiliate of the Underwriters.
(jjj) To the Company’s knowledge, no Member intending to participate in the Offering has a conflict of interest with the Company. For this purpose, a “conflict of interest” means, if at the time of the Member’s participation in the Offering, any of the following applies: (A) the securities are to be issued by the Member; (B) the Company controls, is controlled by or is under common control with the Member or the Member’s associated persons; (C) at least 5% of the net offering proceeds, not including underwriting compensation, are intended to be: (i) used to reduce or retire the balance of a loan or credit facility extended by the Member, its affiliates and its associated persons, in the aggregate; or (ii) otherwise directed to the Member, its affiliates and its associated persons, in the aggregate; or (D) as a result of the Offering and any transactions contemplated at the time of the Offering: (i) the Member will be an affiliate of the Company; (ii) the Member will become publicly owned; or (iii) the Company will become a Member or form a broker-dealer subsidiary. “Member intending to participate in the Offering” includes any associated person of a Member that is participating in the Offering, any members of such associated person’s immediate family, and any affiliate of a Member that is participating in the Offering.
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(kkk) None of the Company, the Sponsor, or, to the knowledge of the Company, any of their respective officers or directors, has taken, directly or indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in stabilization or manipulation of the price of any security of the Company, whether to facilitate the sale or resale of the Underwritten Securities or otherwise, which would directly or indirectly violate Regulation M under the Exchange Act .The Company does not own an interest in any corporation, partnership, limited liability company, joint venture, trust or other entity.
(lll) No relationship, direct or indirect, exists between or among any of the Company or any affiliate of the Company, on the one hand, and any director, director nominee, officer, shareholder, special advisor, customer or supplier of the Company or any affiliate of the Company, on the other hand, which is required by the Act or the Exchange Act to be described in the Registration Statement, Statutory Prospectus or the Prospectus that is not described as required. There are no outstanding loans, advances (except normal advances for business expenses in the ordinary course of business) or guarantees of indebtedness by the Company to or for the benefit of any of the officers, directors or director nominees of the Company or any of their respective family members, except as disclosed in the Registration Statement, Statutory Prospectus and the Prospectus. The Company has not extended or maintained credit, arranged for the extension of credit, or renewed an extension of credit, in the form of a personal loan to or for any director or officer of the Company.
(mmm) The Company has not offered, or caused the Underwriters to offer, the Underwritten Securities to any person or entity with the intention of unlawfully influencing: (a) a customer or supplier of the Company or any affiliate of the Company to alter the customer’s or supplier’s level or type of business with the Company or such affiliate or (b) a journalist or publication to write or publish favorable information about the Company or any such affiliate.
(nnn) Upon delivery and payment for the Ordinary Shares on the Closing Date, the Company will not be subject to Rule 419 under the Act and none of the Company’s outstanding securities will be deemed to be a “penny stock” as defined in Rule 3a51-1 under the Exchange Act.
(ooo) From the time of the initial confidential submission of the Registration Statement to the Commission (or, if earlier, the first date on which the Company engaged, directly or through any person authorized to act on its behalf, in any Testing-the-Waters Communication) through the Execution Time, the Company has been and is an “emerging growth company,” as defined in Section 2(a) of the Act (an “Emerging Growth Company”).
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(ppp) The Company (i) has not alone engaged in any Testing-the-Waters Communication other than Testing-the-Waters Communications with the consent of the Underwriters with entities that are qualified institutional buyers within the meaning of Rule 144A under the Act or institutions that are accredited investors within the meaning of Rule 501 under the Act and (ii) has not authorized anyone other than the Underwriters to engage in Testing-the-Waters Communications. The Company reconfirms that the Underwriters have been authorized to act on its behalf in undertaking Testing-the-Waters Communications. The Company has not distributed any Written Testing-the-Waters Communications other than those listed on Schedule III hereto. “Written Testing-the-Waters Communication” means any Testing-the-Waters Communication that is a written communication within the meaning of Rule 405 under the Act.
(qqq) Except as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus, under current laws and regulations of the Cayman Islands and any political subdivision thereof, all dividends and other distributions declared and payable on the Securities may be paid by the Company to the holder thereof in United States dollars and all such payments made to holders thereof or therein who are non-residents of the Cayman Islands will not be subject to income, withholding or other taxes under laws and regulations of the Cayman Islands or any political subdivision or taxing authority thereof or therein and will otherwise be free and clear of any other tax, duty, withholding or deduction in the Cayman Islands or any political subdivision or taxing authority thereof or therein and without the necessity of obtaining any governmental authorization in the Cayman Islands or any political subdivision or taxing authority thereof or therein.
Any certificate signed by any officer of the Company and delivered to the Underwriters or counsel for the Underwriters in connection with the Offering shall be deemed a representation and warranty by the Company, as to matters covered thereby, to the Underwriter. The Company acknowledges that the Underwriters and, for purposes of the opinions to be delivered pursuant to Section 6 hereof, counsel to the Company and counsel to the Underwriters, will rely upon the accuracy and truthfulness of the foregoing representations and hereby consents to such reliance.
| 2. | PURCHASE<br> AND SALE. |
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(a) Subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Company agrees to sell to the Underwriters, and the Underwriters agree to purchase from the Company, at a purchase price of $9.90 per Ordinary Share, the amount of the Underwritten Securities set forth opposite the Underwriters’ name in Schedule I hereto.
(b) Subject to the terms and conditions and in reliance upon the representations and warranties herein set forth, the Company hereby grants an option to the Underwriters to purchase, severally and not jointly, up to 2,250,000 Option Securities at the same purchase price per Ordinary Share as the Underwriters shall pay for the Underwritten Securities. Said option may be exercised only to cover over-allotments in the sale of the Underwritten Securities by the Underwriters. Said option may be exercised in whole or in part at any time on or before the 45^th^ day after the date of the Prospectus upon written notice by the Underwriters to the Company setting forth the number of Option Securities as to which the Underwriters are exercising the option and the settlement date.
(c) In addition to the discount from the public offering price represented by the purchase price set forth in the first sentence of Section 2(a) of this Agreement, the Company hereby agrees to pay to the Underwriters a deferred discount of $0.30 per Ordinary Share (including both Underwritten Securities and Option Securities) purchased hereunder (the “Deferred Discount”). The Underwriters agree that, at the Company’s sole and absolute discretion, up to $500,000 of the Deferred Discount may be paid to third parties not participating in this offering that assist the Company in consummating its initial Business Combination. The Underwriters hereby agree that if no Business Combination is consummated within the time period provided in the Trust Agreement and the funds held under the Trust Agreement are distributed to the holders of the Ordinary Shares included in the Securities sold pursuant to this Agreement (the “Public Shareholders”), (i) the Underwriters will forfeit any rights or claims to the Deferred Discount and (ii) the trustee under the Trust Agreement is authorized to distribute the Deferred Discount to the Public Shareholders on a pro rata basis.
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| 3. | DELIVERY<br> AND PAYMENT. |
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(a) Delivery of and payment for the Underwritten Securities and the Option Securities (if the option provided for in Section 2(b) hereof shall have been exercised on or before the first Business Day prior to the Closing Date) shall be made at 10:00 a.m., New York City time, on January 26, 2026, or at such time on such later date at least one Business Days after the foregoing date as the Underwriters shall designate, which date and time may be postponed by agreement between the Underwriters and the Company or as provided in Section 9 hereof (such date and time of delivery and payment for the Securities being herein called the “Closing Date”). Delivery of the Securities shall be made to the Underwriters for the account of the Underwriters against payment by the Underwriters of the purchase price thereof by wire transfer payable in same-day funds to an account specified by the Company and to the Trust Account as described below in this Section 3. Delivery of the Underwritten Securities and the Option Securities shall be made through the facilities of The Depository Trust Company (“DTC”) unless the Underwriters shall otherwise instruct.
(b) Payment for the Underwritten Securities shall be made as follows: $148,500,000 of the net proceeds for the Underwritten Securities (including $4,500,000 of Deferred Discount) shall be deposited in the Trust Account pursuant to the terms of the Trust Agreement along with such portion of the gross proceeds from the sale of the Private Placement Shares (the “Private Placement Portion”) in order for the Trust Account to equal the product of the number of Ordinary Shares sold and the Public Offering price per Ordinary Share as set forth on the cover of the Prospectus upon delivery to the Underwriters of the Underwritten Securities through the facilities of DTC or, if the Underwriters have otherwise instructed, upon delivery to the Underwriters of certificates (in form and substance satisfactory to the Underwriters) representing the Underwritten Securities, in each case for the account of the Underwriters. The Underwritten Securities shall be registered in such name or names and in such authorized denominations as the Underwriters may request in writing at least one Business Day prior to the Closing Date. If delivery is not made through the facilities of DTC, the Company will permit the Underwriters to examine and package the Underwritten Securities for delivery, at least one Business Day prior to the Closing Date. The Company shall not be obligated to sell or deliver the Underwritten Securities except upon tender of payment by the Underwriters for all the Underwritten Securities. Payment by the Underwriters for the Underwritten Securities is contingent on the (i) payment by the Sponsor to the Company for the Private Placement Shares and (ii) deposit of the Private Placement Portion by or at the direction of the Company into the Trust Account, in each case at least one Business Day prior to the Closing Date.
(c) Payment for the Option Securities shall be made as follows: $0.40 per Option Security (including $0.30 per Option Security of Deferred Discount) shall be deposited in the Trust Account pursuant to the terms of the Trust Agreement along with such portion of the gross proceeds from the sale of the Private Placement Shares in order for the Trust Account to equal the product of the number of Ordinary Shares sold and the Public Offering price per Ordinary Share as set forth on the cover of the Prospectus upon delivery to the Underwriters of the Option Securities through the facilities of DTC or, if the Underwriters has otherwise instructed, upon delivery to the Underwriters of certificates (in form and substance satisfactory to the Underwriter) representing the Option Securities (or through the facilities of DTC), in each case for the account of the Underwriters. The Option Securities shall be registered in such name or names and in such authorized denominations as the Underwriter may request in writing at least two Business Days prior to the Closing Date. If delivery is not made through the facilities of DTC, the Company will permit the Underwriter to examine and package the Option Securities for delivery, at least one Business Day prior to the Closing Date. The Company shall not be obligated to sell or deliver the Option Securities except upon tender of payment by the Underwriters for all the Option Securities. Payment by the Underwriters for the Option Securities is contingent on the payment by the Sponsor to the Company for the Private Placement Shares and deposit of such portion of the gross proceeds from the sale of the Private Placement Shares in order for the Trust Account, together with the proceeds to be received pursuant to this clause (b), to equal the product of the number of Ordinary Shares sold and the Public Offering price per Ordinary Share as set forth on the cover of the Prospectus by or at the direction of the Company into the Trust Account, in each case at least one Business Day prior to the applicable settlement date.
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If the option provided for in Section 2 hereof is exercised after the first Business Day prior to the Closing Date, the Company will deliver the Option Securities (at the expense of the Company) as directed by the Underwriters for the account of the Underwriters, against payment by the Underwriters of the purchase price thereof to the Trust Account as described above in Section 3(b). If settlement for the Option Securities occurs after the Closing Date, the Company will deliver to the Underwriters on the settlement date for the Option Securities, and the obligation of the Underwriters to purchase the Option Securities shall be conditioned upon receipt of, supplemental opinions, certificates and letters confirming as of such date the opinions, certificates and letters delivered on the Closing Date pursuant to Section 6 hereof.
| 4. | OFFERING<br> BY UNDERWRITERS. |
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It is understood that the Underwriters proposes to offer the Securities for sale to the public as set forth in the Prospectus (the “Offering”).
| 5. | AGREEMENTS. |
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The Company covenants and agrees with the Underwriters that:
(a) Prior to the termination of the Offering, the Company will not file any amendment to the Registration Statement or supplement to the Prospectus or any Rule 462(b) Registration Statement unless the Company has furnished the Underwriters a copy for its review prior to filing and will not file any such proposed amendment, supplement or Rule 462(b) Registration Statement to which the Underwriters reasonably object. The Company will cause the Prospectus, properly completed, and any supplement thereto, to be filed in a form approved by the Underwriter with the Commission pursuant to the applicable paragraph of Rule 424(b) within the time period prescribed and will provide evidence satisfactory to each Underwriter of such timely filing. The Company will promptly advise the Underwriters (i) when the Prospectus, and any supplement thereto, shall have been filed (if required) with the Commission pursuant to Rule 424(b) or when any Rule 462(b) Registration Statement or any Written Testing-the-Waters Communication shall have been filed with the Commission, (ii) when, prior to termination of the Offering, any amendment to the Registration Statement shall have been filed or become effective, (iii) of any request by the Commission or its staff for any amendment of the Registration Statement, any Rule 462(b) Registration Statement or any Written Testing-the-Waters Communication or for any supplement to the Prospectus or for any additional information, (iv) of the issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement or any order preventing or suspending the use of the Preliminary Prospectus, the Prospectus or any Written Testing-the-Waters Communication, or of the institution of any proceedings for that purpose or pursuant to Section 8A of the Act and (v) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Securities for sale in any jurisdiction or the institution or threatening of any proceeding for such purpose. The Company shall use its best efforts to prevent the issuance of any such stop order or the occurrence of any such suspension or objection to the use of the Registration Statement and, upon such issuance, occurrence or notice of objection, to obtain as soon as possible the withdrawal of such stop order or relief from such occurrence or objection, including, if necessary, by filing an amendment to the Registration Statement or a new registration statement and using its best efforts to have such amendment or new registration statement declared effective as soon as practicable.
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(b) If, at any time prior to the filing of the Prospectus pursuant to Rule 424(b), any event or development occurs as a result of which the Statutory Prospectus would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein in the light of the circumstances under which they were made at such time not misleading, the Company will (i) notify promptly the Underwriters so that any use of the Statutory Prospectus may cease until it is amended or supplemented; (ii) amend or supplement the Statutory Prospectus to correct such statement or omission; and (iii) supply any amendment or supplement to the Underwriters in such quantities as it may reasonably request.
(c) If, at any time when a prospectus relating to the Securities is required to be delivered under the Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172), any event or development occurs as a result of which the Prospectus as then supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein in the light of the circumstances under which they were made at such time not misleading, or if it shall be necessary to amend the Registration Statement or supplement the Prospectus to comply with the Act or the rules thereunder, the Company promptly will (i) notify the Underwriters of any such event; (ii) prepare and file with the Commission, subject to the second sentence of paragraph (a) of this Section 5, an amendment or supplement that will correct such statement or omission or effect such compliance; and (iii) supply any supplemented Prospectus to the Underwriters in such quantities as it may reasonably request.
(d) As soon as practicable, the Company will make generally available to its security holders and to the Underwriters an earnings statement or statements of the Company and its subsidiaries that will satisfy the provisions of Section 11(a) of the Act and Rule 158; provided, that the Company will be deemed to have furnished such statements to its security holders and the Underwriters to the extent they are filed on the Commission’s Electronic Data Gathering, Analysis, and Retrieval system (“EDGAR”) or any successor system.
(e) The Company will not make any offer relating to the Ordinary Shares that constitutes or would constitute a Free Writing Prospectus or a portion thereof required to be filed by the Company with the Commission or retained by the Company under Rule 433 of the Act, without the prior consent of each Underwriter.
(f) The Company will furnish to the Underwriters and counsel for the Underwriters, without charge, signed copies of the Registration Statement (including amendments, schedules, and exhibits thereto) and, so long as delivery of a prospectus by an Underwriter or dealer may be required by the Act (including in circumstances where such requirement may be satisfied pursuant to Rule 172), as many copies of each Preliminary Prospectus, the Prospectus and any supplement thereto as the Underwriters may reasonably request. The Company will pay the expenses of printing or other production of all documents relating to the Offering. The Prospectus and any amendments or supplements thereto furnished to the Underwriters will be identical to the electronically transmitted copies thereof filed with the Commission pursuant to EDGAR, except to the extent permitted by Regulation S-T.
(g) The Company will arrange, if necessary, for the qualification of the Securities for sale under the laws of such jurisdictions as the Underwriters may designate and will maintain such qualifications in effect so long as required for the distribution of the Securities; provided, however, that in no event shall the Company be obligated to qualify to do business in any jurisdiction where it is not now so qualified or to take any action that would subject it to service of process in suits, other than those arising out of the offering or sale of the Securities, in any jurisdiction where it is not now so subject.
(h) The Company will not, without the prior written consent of each Underwriter, (x) offer, sell, contract to sell, pledge or grant any option to purchase or otherwise dispose of (or enter into any transaction that is designed to, or might reasonably be expected to, result in the disposition (whether by actual disposition or effective economic disposition due to cash settlement or otherwise) by the Company or any affiliate of the Company or any person in privity with the Company or any affiliate of the Company), directly or indirectly, including the filing (or participation in the filing) of a registration statement with the Commission in respect of, or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16 of the Exchange Act with respect to, any other Ordinary Shares or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares or publicly announce an intention to effect any such transaction during the period commencing on the date hereof and ending 180 days after the date of this Agreement; provided, however, that the Company may (1) issue and sell the Private Placement Shares, (2) issue and sell the Option Securities on exercise of the option provided for in Section 2 hereof, (3) register with the Commission pursuant to the Registration Rights Agreement, in accordance with the terms of the Registration Rights Agreement, the resale of the securities covered thereby, and (4) issue securities in connection with a Business Combination or (y) release the Sponsor or any officer, director or director nominee from the 180-day lock-up contained in the Insider Letters; provided, that the foregoing restrictions shall not apply to the forfeiture of any Founder Shares pursuant to the terms of the Insider Letters or any transfer of Founder Shares to a current or future independent director of the Company (as long as such current or future independent director is subject to the terms of the Insider Letters with respect to such Founder Shares at the time of such transfer). Each Underwriter in its sole discretion may release or waive the transfer restrictions set forth herein at any time without notice. The Company agrees not to waive or amend the Insider Letters without the written consent of the Underwriters.
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(i) The Company will not take, directly or indirectly, any action designed to or that would constitute or that might reasonably be expected to cause or result in, under the Exchange Act or otherwise, stabilization or manipulation of the price of any security of the Company to facilitate the sale or resale of the Securities, whether to facilitate the sale or resale of the Underwritten Securities or otherwise in violation of Regulation M, and the Company will comply with all applicable provisions of Regulation M.
(j) The Company agrees to pay the costs and expenses relating to the following matters: (i) the preparation, printing or reproduction and filing with the Commission of the Registration Statement (including financial statements and exhibits thereto), each Preliminary Prospectus, the Prospectus and each amendment or supplement to any of them; (ii) the printing (or reproduction) and delivery (including postage, air freight charges and charges for counting and packaging) of such copies of the Registration Statement, each Preliminary Prospectus, the Prospectus and all amendments or supplements to any of them, as may, in each case, be reasonably requested for use in connection with the offering and sale of the Securities; (iii) the preparation, printing, authentication, issuance and delivery of certificates for the Securities, including any stamp or transfer taxes (but, in no event, taxes imposed on the net income of the Underwriters) in connection with the original issuance and sale of the Securities; (iv) the printing (or reproduction) and delivery of this Agreement and all other agreements or documents printed (or reproduced) and delivered in connection with the Offering; (v) the registration of the Securities under the Exchange Act and the listing of the Securities on the Nasdaq; (vi) the printing and delivery of a preliminary blue sky memorandum, any registration or qualification of the Securities for offer and sale under the securities or blue sky laws of the several states, and any filings required to be made with FINRA (including the FINRA-related fees and expenses of the Underwriters’ legal counsel, not to exceed $25,000); (vii) the transportation and other expenses incurred by or on behalf of the Company (and not the Underwriters) in connection with presentations to prospective purchasers of the Securities; (viii) the fees and expenses of the Company’s accountants and the fees and expenses of counsel for the Company; (ix) all other costs and expenses incident to the performance by the Company of its obligations hereunder; and (x) reasonable out-of-pocket expenses of the Underwriters (excluding fees and expenses of counsel for the Underwriters) not to exceed $100,000.
(k) For a period of at least five (5) years from the Effective Date or until such earlier time at which the Liquidation occurs, the Company shall use its commercially reasonable efforts to maintain the registration of the Ordinary Shares (or such other security into which such Ordinary Shares may be exchanged in connection with an initial Business Combination) under the Exchange Act, except after giving effect to a going private transaction after the completion of a Business Combination. The Company will not deregister the Ordinary Shares under the Exchange Act (except in connection with a going private transaction after the completion of a Business Combination) without the prior consent of the Underwriters.
(l) The Company shall, on the date hereof, retain its independent registered public accounting firm to audit the balance sheet of the Company as of the Closing Date (the “Audited Balance Sheet”) reflecting the receipt by the Company of the proceeds of the Offering on the Closing Date. As soon as the Audited Balance Sheet becomes available, the Company shall promptly, but not later than four Business Days after the Closing Date, file a Current Report on Form 8-K with the Commission, which Report shall contain the Audited Balance Sheet. Additionally, upon the Company’s receipt of the proceeds from the exercise of all or any portion of the option provided for in Section 2 hereof, the Company shall promptly, but not later than four Business Days after the receipt of such proceeds, file a Current Report on Form 8-K with the Commission, which report shall disclose the Company’s sale of the Option Securities and its receipt of the proceeds therefrom.
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(m) For a period commencing on the Effective Date and ending five (5) years from the date of the consummation of the Business Combination or until such earlier time at which the Liquidation occurs or the Ordinary Shares cease to be publicly traded, the Company, at its expense, shall cause its regularly engaged independent registered public accounting firm to review (but not audit) the Company’s financial statements for each of the first three fiscal quarters prior to the announcement of quarterly financial information, the filing of the Company’s Form 10-Q quarterly report and the mailing, if any, of quarterly financial information to shareholders.
(n) For a period of at least five (5) years from the Effective Date or until such earlier time at which the Liquidation occurs, the Company shall, to the extent such information or documents are not otherwise publicly available, upon written request from the Underwriters, furnish to the Underwriters copies of such financial statements and other periodic and special reports as the Company from time to time furnishes generally to holders of any class of securities, and, to the extent such information or documents are not otherwise publicly available, upon written request from the Underwriter promptly furnish to the Underwriters: (i) copies of such registration statements, financial statements and periodic and special reports as the Company shall be required to file with the Commission and from time to time furnishes generally to holders of any such class of its securities; and (ii) such additional documents and information with respect to the Company and the affairs of any future subsidiaries of the Company as the Underwriters may from time to time reasonably request, all subject to the execution of a satisfactory confidentiality agreement. Any registration statements, financial statements, periodic and special reports or other additional documents referred to in the preceding sentence filed on the Commission’s EDGAR website will be considered furnished for the purposes of this section.
(o) In connection with the Business Combination, the Company shall (i) provide, or cause any Target Business to provide, to the Underwriters and its representatives, customary documentation, including (A) all financial and other records, including any financial forecasts or projections, (B) pertinent corporate documents, (C) material contracts, (D) documents and information contained in the virtual data room used in connection with the Business Combination, and (E) any other information, certifications or documentation reasonably requested by the Underwriters and its representatives with respect to the parties to the Business Combination Agreement, in each case, with reasonable advance opportunity to review the foregoing; (ii) cause appropriate officers, directors and employees of the parties to the Business Combination Agreement, and cause representatives of the Company’s and any Target Business’s accountants and auditors, to participate in any due diligence sessions reasonably requested by the Underwriters in connection with the Business Combination; and (iii) provide, and in the case of any Target Business, cause to provide, customary comfort letters, legal opinions and negative assurance letters, in form and substance reasonably satisfactory to each Underwriter, each dated as of the effective date of the registration statement (if applicable), statutory prospectus, prospectus or proxy statement filed in connection with the Business Combination and as of the date of the shareholder vote to approve the Business Combination.
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(p) The Company shall include in any Business Combination agreement (i) a covenant for the assignment and assumption, by the public entity resulting from the Business Combination, of all of the Company’s indemnification obligations under Section 8 hereof and (ii) that the Underwriters may rely on the representations and warranties contained therein as if they were a party thereto.
(q) The Company acknowledges and agrees that nothing in this Agreement shall be interpreted to obligate the Underwriters to take any action, or to refrain from taking any action, in connection with the Business Combination and any such actions will be undertaken by the Underwriters, in respect of itself, in its sole discretion and only pursuant to a separate, definitive written agreement between the Underwriters and the Company or another registrant.
(r) The Company shall (i)(A) provide the Underwriters and its representatives a reasonable advance opportunity to review and comment on any registration statement, statutory prospectus, prospectus and proxy statement, including exhibits and financial statements included therein, to be filed in connection with the Business Combination, prior to each such filing, (B) provide the Underwriters and its representatives a reasonable advance opportunity to review and comment on any document that names or describes the Underwriters, whether or not such document is filed, (C) give reasonable consideration to any comments made by the Underwriters and its representatives, and (D) consider in good faith including in any such filing, document or response all comments reasonably proposed by the Underwriters and its representatives; provided that any information naming or describing each Underwriter must be in a form and content reasonably satisfactory to the Underwriters; and (ii) upon the request by an Underwriter, promptly file an amendment to any registration statement, statutory prospectus, prospectus and proxy statement, including exhibits and financial statements included therein, filed in connection with the Business Combination, to correct any information to the extent that such information shall have become false or misleading in any material respect, or to correct any material omissions therefrom.
(s) For a period commencing on the Effective Date and ending five (5) years from the date of the consummation of the Business Combination or until such earlier time at which the Liquidation occurs or the Ordinary Shares cease to be publicly traded, the Company shall retain a transfer agent acceptable to the Underwriters.
(t) In no event will the amounts payable by the Company for office space, utilities and secretarial and administrative services exceed $6,458 per month in the aggregate until the earlier of the date of the consummation of the Business Combination or the Liquidation.
(u) The Company will not consummate a Business Combination with any entity that is affiliated with the Sponsor or any of the Company’s officers or directors unless it obtains an opinion from an independent investment banking firm which is a Member that such Business Combination is fair to the Company from a financial point of view. The Company shall not pay the Sponsor or its affiliates or any of the Company’s officers, directors or any of their respective affiliates any fees or compensation for services rendered to the Company prior to, or in connection with, the consummation of a Business Combination.
(v) The Company will apply the net proceeds from the Offering and the sale of the Private Placement Shares received by it in a manner consistent in all material respects with the applications described under the caption “Use of Proceeds” in the Registration Statement, Statutory Prospectus and the Prospectus.
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(w) For a period of 60 days following the Effective Date, in the event any person or entity (regardless of any FINRA affiliation or association) is engaged to assist the Company in its search for a merger candidate or to provide any other merger and acquisition services, or has provided or will provide any investment banking, financial, advisory and/or consulting services to the Company, the Company agrees that it shall promptly provide to FINRA (via a FINRA submission), and to the Underwriters and their counsel, a notification prior to entering into the agreement or transaction relating to a potential Business Combination including: (i) the identity of the person or entity providing any such services; (ii) complete details of all such services and copies of all agreements governing such services prior to entering into the agreement or transaction; and (iii) justification as to why the person or entity providing the merger and acquisition services should not be considered a Member with respect to the Offering. The Company also agrees that proper disclosure of such arrangement or potential arrangement will be made in the tender offer materials or proxy statement, as applicable, which the Company may file in connection with the Business Combination for purposes of offering redemption of shares held by its shareholders or for soliciting shareholder approval, as applicable.
(x) The Company shall advise FINRA, the Underwriters and its counsel, if it is aware that any 10% or greater shareholder of the Company becomes an affiliate or associated person of a Member participating in the distribution of the Securities.
(y) To the Company’s knowledge, none of the Sponsor, officers, directors or director nominees of the Company is subject to a non-competition agreement or non-solicitation agreement with any employer or prior employer that could materially affect its, his or her ability to be and act in the capacity of shareholder, officer or director of the Company, as applicable.
(z) The Company shall cause the proceeds of the Offering and the sale of the Private Placement Shares to be held in the Trust Account to be invested only in United States government treasury bills with a maturity of 185 days or less or in money market funds meeting certain conditions under Rule 2a-7 under the Investment Company Act as set forth in the Trust Agreement and disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus. The Company will otherwise conduct its business in a manner so that it will not become subject to the Investment Company Act. Furthermore, once the Company consummates a Business Combination, it will not be required to register as an investment company under the Investment Company Act.
(aa) The Company will seek to have all vendors, service providers (other than the Company’s independent registered public accounting firm), prospective target businesses and other entities with which it does business execute agreements with it waiving any right, title, interest or claim of any kind in or to any monies held in the Trust Account for the benefit of the Public Shareholders. If any third party refuses to execute an agreement waiving such claims to the monies held in the Trust Account, the Company’s management will perform an analysis of the alternatives available to the Company it and will only enter into an agreement with a third party that has not executed a wavier if the Company’s management believes that such third party’s engagement would be significantly more beneficial to the Company than any alternative.
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(bb) The Company agrees that neither it, nor any successor or subsidiary of the Company, will consummate any public or private equity or debt financing prior to the consummation of a Business Combination, unless all investors in such financing expressly waive, in writing, any rights in or claims against the Trust Account with respect to such financing.
(cc) During the period prior to the Company’s initial Business Combination or Liquidation, the Company may instruct the trustee under the Trust Agreement to release interest from the Trust Account, the amounts necessary to pay its taxes. Otherwise, all funds held in the Trust Account (including any interest income earned on the amounts held in the Trust Account (net of taxes payable thereon)) will remain in the Trust Account until the earlier of the consummation of the Company’s initial Business Combination or the Liquidation; provided, however, that in the event of the Liquidation, up to $100,000 of interest income may be released to the Company if the proceeds of the Offering held outside of the Trust Account are not sufficient to cover the costs and expenses associated with implementing the Company’s plan of dissolution.
(dd) The Company will reserve and keep available that maximum number of its authorized but unissued securities that are issuable upon the conversion of the Founder Shares.
(ee) Prior to the consummation of a Business Combination or the Liquidation, the Company shall not issue any Ordinary Shares, Private Placement Shares or any options or other securities convertible into Ordinary Shares, or any preferred shares, in each case, that participate in any manner in the Trust Account or that vote as a class with the Ordinary Shares on a Business Combination.
(ff) Prior to the consummation of a Business Combination or the Liquidation, the Company’s audit committee will review on a quarterly basis all payments made to the Sponsor, to the Company’s officers or directors, or to the Company’s or any of such other persons’ respective affiliates.
(gg) The Company will comply with the Act and the Exchange Act so as to permit the completion of the distribution of the Underwritten Securities as contemplated by this Agreement, the Registration Statement, the Statutory Prospectus and the Prospectus. Without limiting the generality of the foregoing, the Company will, during the period when a prospectus relating to the Underwritten Securities is required by the Act to be delivered (whether physically or through compliance with Rule 172 under the Act or any similar rule), file on a timely basis with the Commission and Nasdaq all reports and documents required to be filed under the Exchange Act. Additionally, the Company shall report the use of proceeds from the issuance of the Underwritten Securities as may be required under Rule 463 under the Act.
(hh) The Company agrees that it shall use commercially reasonable efforts to prevent the Company from becoming subject to Rule 419 prior to the consummation of any Business Combination, including, but not limited to, using commercially reasonable efforts to prevent any of the Company’s outstanding securities from being deemed to be a “penny stock” as defined in Rule 3a51-1 under the Exchange Act during such period.
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(ii) To the extent required by Rule 13a-15(e) under the Exchange Act, the Company shall maintain “disclosure controls and procedures” (as defined under Rule 13a-15(e) under the Exchange Act) and a system of internal accounting controls sufficient to provide reasonable assurances that (i) transactions are executed in accordance with management’s general or specific authorization, (ii) transactions are recorded as necessary in order to permit preparation of financial statements in accordance with GAAP and to maintain accountability for assets, (iii) access to assets is permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect to any differences.
(jj) The Company will use commercially reasonable efforts to effect and, for a period commencing on the Effective Date and ending five (5) years from the date of the consummation of the Business Combination or until such earlier time at which Liquidation occurs, maintain the listing of the Ordinary Shares on Nasdaq or another national securities exchange acceptable to the Underwriters.
(kk) As soon as legally required to do so, the Company and its directors and officers, in their capacities as such, shall take all actions necessary to comply with any applicable provisions of the Sarbanes-Oxley Act, including Section 402 related to loans and Sections 302 and 906 related to certifications, and to comply with the Nasdaq Marketplace Rules.
(ll) The Company shall not take any action or omit to take any action that would cause the Company to be in breach or violation of its Amended and Restated Memorandum and Articles of Association.
(mm) The Company covenants and agrees, that prior to its initial Business Combination it will not seek to amend or modify its Amended and Restated Memorandum and Articles of Association, except as set forth therein.
(nn) The Company shall not amend, modify or otherwise change the Trust Agreement or any Insider Letter without the prior written consent of each Underwriter, which will not be unreasonably delayed, conditioned or withheld. Furthermore, the Trust Agreement shall provide that the Trustee is required to obtain a joint written instruction signed by both the Company and the Underwriters with respect to the transfer of the funds held in the Trust Account from the Trust Account, prior to commencing any liquidation of the assets of the Trust Account in connection with the consummation of any Business Combination, and such provision of the Trust Agreement shall not be permitted to be amended without the prior written consent of the Underwriters.
(oo) The Company shall seek to have all vendors, service providers (other than independent accountants), prospective target businesses, lenders or other entities with which it does business enter into agreements waiving any right, title, interest or claim of any kind in or to any monies held in the Trust Account for the benefit of the Public Shareholders. The Company may forego obtaining such waivers only if the Company shall have received the approval of its Chief Executive Officer.
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(pp) The Company may consummate the initial Business Combination and conduct redemptions of Ordinary Shares for cash upon consummation of such Business Combination without a shareholder vote pursuant to Rule 13e-4 and Regulation 14E under the Exchange Act, including the filing of tender offer documents with the Commission. Such tender offer documents will contain substantially the same financial and other information about the initial Business Combination and the redemption rights as is required under the Commission’s proxy rules and will provide each shareholder of the Company with the opportunity prior to the consummation of the initial Business Combination to redeem the Ordinary Shares held by such shareholder for an amount of cash equal to (A) the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination, representing (x) the proceeds held in the Trust Account from the Offering and the sale of the Private Placement Shares and (y) any interest income earned on the funds held in the Trust Account not previously released to pay taxes, divided by (B) the total number of Ordinary Shares sold in the Offering (the “Public Shares”) then outstanding. If, however, a shareholder vote is required by law or stock exchange listing requirement in connection with the initial Business Combination or the Company decides to hold a shareholder vote for business or other legal reasons, the Company will submit such Business Combination to the Company’s shareholders for their approval (“Business CombinationVote”). With respect to the initial Business Combination Vote, if any, the Sponsor, and its officers and directors, have agreed to vote all of their Founder Shares and any other Ordinary Shares purchased during or after the Offering in favor of the Company’s initial Business Combination. If the Company seeks shareholder approval of the initial Business Combination, the Company will offer to each Public Shareholder holding Ordinary Shares the right to have its shares redeemed in conjunction with a proxy solicitation pursuant to the proxy rules of the Commission at a per share redemption price (the “Redemption Price”) equal to (I) the aggregate amount then on deposit in the Trust Account as of two business days prior to the consummation of the initial Business Combination, representing (1) the proceeds held in the Trust Account from the Offering and the sale of the Private Placement Shares and (2) any interest income earned on the funds held in the Trust Account not previously released to pay taxes, divided by (II) the total number of Public Shares then outstanding. If the Company seeks shareholder approval of the initial Business Combination, the Company may proceed with such Business Combination only if a majority of the outstanding Ordinary Shares voted by the shareholders at a duly held shareholders meeting are voted to approve such Business Combination. If, after seeking and receiving such shareholder approval, the Company elects to so proceed, it will redeem shares, at the Redemption Price, from those Public Shareholders who affirmatively requested such redemption. Only Public Shareholders holding Ordinary Shares who properly exercise their redemption rights, in accordance with the applicable tender offer or proxy materials related to such Business Combination and the Amended and Restated Memorandum and Articles of Association of the Company, shall be entitled to receive distributions from the Trust Account in connection with an initial Business Combination, and the Company shall pay no distributions with respect to any other holders of shares of capital stock of the Company in connection therewith. In the event that the Company does not effect a Business Combination by twenty-four (24) months, the Company will cease all operations except for the purpose of winding up and, as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the trust account (less taxes paid or payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding Public Shares, which redemption will constitute full and complete payment for such Public Shares and completely extinguish Public Shareholders’ rights as shareholders (including the right to receive further liquidation or other distributions, if any, subject to the Company’s obligations under Cayman Islands law to provide for claims of creditors and subject to the other requirements of applicable law. Only Public Shareholders holding Ordinary Shares included in the Securities will be entitled to receive such redemption amounts and the Company shall pay no such redemption amounts or any distributions in liquidation with respect to any other shares of the Company. The Sponsor and the Company’s officers and directors have agreed that they will not propose any amendment to the Amended and Restated Memorandum and Articles of Association that would affect the substance or timing of the Company’s obligation to redeem 100% of the outstanding Public Shares if the Company has not consummated a Business Combination within twenty-four (24) months from the closing of the Offering unless the Company offers to redeem the Public Shares in connection with such amendment, as described in the Statutory Prospectus and Prospectus.
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(qq) In the event that the Company desires or is required by an applicable law or regulation to cause an announcement (“BusinessCombination Announcement”) to be placed in The Wall Street Journal, The New York Times or any other news or media publication or outlet or to be made via a public filing with the Commission announcing the consummation of the Business Combination that indicates that the Underwriters were the underwriter in the Offering, the Company shall supply the Underwriters with a draft of the Business Combination Announcement and provide the Underwriters with a reasonable advance opportunity to comment thereon, subject to the agreement of the Underwriters to keep confidential such draft announcement in accordance with each Underwriter’s standard policies regarding confidential information.
(rr) Upon consummation of the Company’s initial Business Combination, the Company agrees that it will cause the Trustee to pay the Deferred Discount (as defined below) directly from the Trust Account to the Underwriter, in accordance with Section 3 of this Agreement. The Underwriters shall have no claim to payment of any interest earned on the portion of the proceeds held in the Trust Account representing the Deferred Discount and shall not be entitled to payment of the Deferred Discount if the Company does not consummate an initial Business Combination.
(ss) The Company will endeavor in good faith, and in cooperation with the Underwriters, to qualify the Securities for offering and sale under the securities laws of such jurisdictions as the Underwriters may reasonably designate; provided that no such qualification shall be required in any jurisdiction where, as a result thereof, the Company would be subject to service of general process or to taxation as a foreign corporation doing business in such jurisdiction. Until the earliest of (i) the date on which the Underwriters shall have ceased to engage in market-making activities in respect of the Securities, (ii) the date on which the Securities are listed on the Nasdaq (or any successor thereto), (iii) a going private transaction after the completion of a Business Combination, and (iv) the date of the liquidation of the Company, in each jurisdiction where such qualification shall be effected, the Company will, unless the Underwriters agree that such action is not at the time necessary or advisable, use all reasonable efforts to file and make such statements or reports at such times as are or may be required to qualify the Securities for offering and sale under the securities laws of such jurisdiction.
(tt) If at any time following the distribution of any Written Testing-the-Waters Communication, there occurred or occurs an event or development as a result of which such Written Testing-the-Waters Communication included or would include any untrue statement of a material fact or omitted or would omit to state any material fact necessary to make the statements therein in light of the circumstances under which they were made at such time, not misleading, the Company will promptly (i) notify the Underwriters so that use of the Written Testing-the-Waters Communication may cease until it is amended or supplemented; (ii) amend or supplement, at its own expense, such Written Testing-the-Waters Communication to eliminate or correct such untrue statement or omission; and (iii) supply any amendment or supplement to the Underwriters in such quantities as may be reasonably requested.
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(uu) The Company will promptly notify the Underwriters if the Company ceases to be an Emerging Growth Company at any time prior to the later of completion of the distribution of the Securities within the meaning of the Act and completion of the 180-day restricted period referred to in Section 5(h) hereof.
(vv) Upon the earlier to occur of the expiration or termination of the Underwriters’ over-allotment option, the Company shall cancel or otherwise effect the forfeiture of Founder Shares from the Sponsor in an aggregate amount equal to the number of Founder Shares determined by multiplying (a) 562,500 by (b) a fraction, (i) the numerator of which is 2,250,000 minus the number of Option Securities purchased by the Underwriters upon the exercise of their over-allotment option, and (ii) the denominator of which is 2,250,000. For the avoidance of doubt, if the Underwriters exercise their over-allotment option in full, the Company shall not cancel or otherwise effect the forfeiture of the Founder Shares pursuant to this subsection.
(ww) The Company hereby agrees that, until the consummation of a Business Combination, it shall not issue any Class A Ordinary Shares or any options or other securities convertible into Class A Ordinary Shares, or any preferred shares or other securities of the Company which participate in any manner in the Trust Account or which vote as a class with the Class A Ordinary Shares on a Business Combination.
(xx) The Company hereby agrees that, until the consummation of a Business Combination, it shall not issue any Ordinary Shares or any options or other securities convertible into Securities, or any preferred shares or other securities of the Company which participate in any manner in the Trust Account or which vote as a class with the Ordinary Shares on a Business Combination.
(yy) The Company hereby agrees that it will use its reasonable best efforts prior to commencing its due diligence investigation of any prospective Target Business or obtaining the services of any vendor to have such Target Business and/or vendor acknowledge in writing whether through a letter of intent, memorandum of understanding or other similar document (and subsequently acknowledges the same in any definitive document replacing any of the foregoing), that (a) it has read the Prospectus and understands that the Company has established the Trust Account, initially in an amount of $150,000,000 (without giving effect to any exercise of the Underwriters’ over-allotment option) for the benefit of the Public Shareholders and that, except for a portion of the interest earned on the amounts held in the Trust Account, the Company may disburse monies from the Trust Account only (i) to the Public Shareholders in the event they elect to redeem Ordinary Shares contained in the Securities in connection with the consummation of a Business Combination, (ii) to the Public Shareholders if the Company fails to consummate a Business Combination within the time period set forth in the Amended and Restated Memorandum and Articles of Association and the Prospectus, or (iii) to the Company after or concurrently with the consummation of a Business Combination and (b) for and in consideration of the Company (iv) agreeing to evaluate such Target Business for purposes of consummating a Business Combination with it or (v) agreeing to engage the services of the vendor, as the case may be, such Target Business or vendor agrees that it does not have any right, title, interest or claim of any kind in or to any monies in the Trust Account (“Claim”) and waives any Claim it may have in the future as a result of, or arising out of, any negotiations, contracts or agreements with the Company and will not seek recourse against the Trust Account for any reason whatsoever. The Company may forego obtaining such waivers only if the Company shall have received the approval of its Chief Executive Officer and the approving vote of at least a majority of the Company’s board of directors (the “Board”).
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(zz) The Company shall not take any action or omit to take any action which would cause a breach of any of the Insider Letters and will not allow any amendments to, or waivers of, such Insider Letters without the prior written consent of the Underwriters, which consent shall not be unreasonably withheld.
(aaa) The Company shall provide to the Underwriters or their counsel (if so instructed by the Underwriters) with 10 copies of all tender offer documents or proxy information and all related material filed with the Commission in connection with a Business Combination concurrently with such filing with the Commission. Documents filed with the Commission pursuant to its EDGAR system shall be deemed to have been provided to the Representative pursuant to this Section 5((aaa)). In addition, the Company shall furnish any other state in which its initial public offering was registered, such information as may be requested by such state.
(bbb) The Company agrees that the Target Business that it acquires must have a fair market value equal to at least 80% of the assets held in the Trust Account at the time of signing the definitive agreement for the Business Combination with such Target Business (excluding taxes payable and the Deferred Discount). The fair market value of such business must be determined by the Board based upon standards generally accepted by the financial community, such as actual and potential sales, earnings, cash flow and book value. If the Board is not able to independently determine that the target business meets such fair market value requirement, the Company will obtain an opinion from an independent investment banking firm or another independent entity that commonly renders valuation opinions with respect to the satisfaction of such criteria. The Company is not required to obtain an opinion as to the fair market value if the Board independently determines that the Target Business does have sufficient fair market value.
| 6. | CONDITIONS<br> TO THE OBLIGATIONS OF THE UNDERWRITERS. |
|---|
The obligations of the Underwriters to purchase the Underwritten Securities and the Option Securities, as the case may be, shall be subject to the accuracy of the representations and warranties on the part of the Company contained herein as of the Execution Time, the Closing Date and any settlement date pursuant to Section 3 hereof, to the accuracy of the statements of the Company made in any certificates pursuant to the provisions hereof, to the performance by the Company of its obligations hereunder and to the following additional conditions:
(a) The Prospectus, and any supplement thereto, have been filed and have become effective in the manner and within the time period required by Rule 424(b); and no stop order suspending the effectiveness of the Registration Statement or any notice objecting to its use shall have been issued and no proceedings for that purpose shall have been instituted or threatened.
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(b) The Company shall have requested and caused White & Case LLP, counsel for the Company, to have furnished to the Underwriters its opinions and negative assurance letter, each dated the Closing Date and settlement date, as applicable, and addressed to the Underwriters, in a form reasonably acceptable to the Underwriters.
(c) The Company shall have requested and caused Maples and Calder (Cayman) LLP, Cayman Islands counsel for the Company, to have furnished to the Underwriters its opinions, each dated the Closing Date and any settlement date, as applicable, and addressed to the Underwriters, in form and substance reasonably acceptable to the Underwriters.
(d) The Underwriters shall have received from Kirkland & Ellis LLP, counsel for the Underwriters, such opinions and negative assurance letter, each dated the Closing Date or settlement date, as applicable, and addressed to the Underwriter, in form and substance reasonably acceptable to the Underwriter, and the Company shall have furnished to such counsel such documents as they request for the purpose of enabling them to pass upon such matters.
(e) The Company shall have furnished to the Underwriters a certificate of the Company, signed by the Chief Executive Officer and the principal financial or accounting officer of the Company, dated the Closing Date or settlement date (as applicable), to the effect that the signers of such certificate have carefully examined the Registration Statement, each Preliminary Prospectus, the Prospectus and any amendment or supplement thereto, and this Agreement and that:
(i) the representations and warranties of the Company in this Agreement are true and correct on and as of the Closing Date or settlement date (as applicable) with the same effect as if made on the Closing Date or settlement date (as applicable) and the Company has complied with all the agreements and satisfied all the conditions on its part to be performed or satisfied at or prior to the Closing Date or settlement date (as applicable);
(ii) no stop order suspending the effectiveness of the Registration Statement or any notice objecting to its use has been issued and no proceedings for that purpose have been instituted or, to the Company’s knowledge, threatened; and
(iii) since the date of the most recent financial statements included in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto), there has been no Material Adverse Effect, except as set forth in or contemplated by the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
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(f) The Company shall have requested and caused Withum to have furnished to the Underwriters, at the Execution Time and at the Closing Date or settlement date (as applicable), letters, dated respectively as of the Execution Time and as of the Closing Date or settlement date (as applicable), in form and substance satisfactory to the Underwriters, confirming that they are a registered public accounting firm that is independent with respect to the Company within the meaning of the Act and the Exchange Act and the applicable rules and regulations adopted by the Commission thereunder and that they have performed a review of the audited financial statements of the Company for the period from September 10, 2025 (Inception) through November 21, 2025, provided, however, that the cutoff date shall not be more than two business days prior to such Execution Time or Closing Date or settlement date, as applicable, and stating in effect that:
(i) in its opinion the audited financial statements, the unaudited financial statements and any financial statement schedules included in the Registration Statement, the Statutory Prospectus and the Prospectus and reported on by them comply as to form in all material respects with the applicable accounting requirements of the Act and the related rules and regulations adopted by the Commission; and
(ii) they have performed certain other specified procedures as a result of which they determined that certain information of an accounting, financial or statistical nature (which is limited to accounting, financial or statistical information derived from the general accounting records of the Company) set forth in the Registration Statement, the Statutory Prospectus and the Prospectus, including the information set forth under the captions “Dilution” and “Capitalization” in the Statutory Prospectus and the Prospectus, agrees with the accounting records of the Company, excluding any questions of legal interpretation.
References to the Prospectus in this paragraph (f) include any supplement thereto at the date of the letter.
(g) Subsequent to the Execution Time or, if earlier, the dates as of which information is given in the Registration Statement (exclusive of any amendment thereof), the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto), there shall not have been any change specified in the letter or letters referred to in Section 6(f) or any change, or any development involving a prospective change, in or affecting the earnings, business, management, properties, assets, rights, operations, condition (financial or otherwise) or prospects of the Company, whether or not arising from transactions in the ordinary course of business, except as set forth in or contemplated in the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto) the effect of which, in any case referred to in clause (i) or (ii) above, is, in the sole judgment of the Underwriters, so material and adverse as to make it impractical or inadvisable to proceed with the offering or delivery of the Securities as contemplated by the Registration Statement (exclusive of any amendment thereof), the Statutory Prospectus and the Prospectus (exclusive of any supplement thereto).
(h) Prior to the Closing Date or settlement date (as applicable), the Company shall have furnished to the Underwriters such further information, certificates and documents as the Underwriters may reasonably request.
(i) FINRA shall not have raised any objection with respect to the fairness or reasonableness of the underwriting terms or other arrangements of the transactions contemplated hereby.
(j) The Securities shall be duly listed subject to notice of issuance on the Nasdaq, satisfactory evidence of which shall have been provided to the Underwriters.
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(k) On the Effective Date, the Company shall have delivered to the Underwriters executed copies of the Trust Agreement, the Founder’s Purchase Agreement, the Share Subscription Agreement, the Registration Rights Agreement and the Insider Letter.
(l) At least one Business Day prior to the Closing Date or settlement date (as applicable), the Company shall have caused the applicable purchase price for the Private Placement Shares to be deposited into the Trust Account so that together with the net proceeds for the Ordinary Shares (including the Deferred Discount), or with respect to the Optional Securities, the net proceeds from the Optional Securities (including the Deferred Discount), the Trust Account would equal the product of the number of Ordinary Shares sold and the public offering price per Ordinary Share as set forth on the cover of the Prospectus. Notwithstanding the foregoing, in no event will the Company take any action that would result in the Company receiving proceeds from the sale of the Private Placement Shares in excess of the sum of: (i) the amount required to satisfy the obligation in the immediately preceding sentence; (ii) the amount of the discount from the public offering price represented by the Purchase Price set forth in the last sentence of Section 2(a) of this Agreement and (iii) the amount of money to be held by the Company outside of the Trust Account, as disclosed in the Registration Statement, the Statutory Prospectus and the Prospectus.
(m) No order preventing or suspending the sale of the Ordinary Shares in any jurisdiction designated by the Underwriters pursuant to Section 5(ii) hereof shall have been issued as of the Closing Date or settlement date (as applicable), and no proceedings for that purpose shall have been instituted or shall have been threatened.
If any of the conditions specified in this Section 6 shall not have been fulfilled when and as provided in this Agreement, or if any of the opinions and certificates mentioned above or elsewhere in this Agreement shall not be reasonably satisfactory in form and substance to the Underwriters and counsel for the Underwriters, this Agreement and all obligations of the Underwriters hereunder may be canceled at, or at any time prior to, the Closing Date by the Underwriters. Notice of such cancellation shall be given to the Company in writing or by telephone or facsimile confirmed in writing.
The documents required to be delivered by this Section 6 shall be delivered at the office of Kirkland & Ellis LLP, counsel for the Underwriters, at 601 Lexington Avenue, New York, New York 10022, Attention: Christian Nagler, unless otherwise indicated herein, on the Closing Date or settlement date (as applicable).
| 7. | REIMBURSEMENT<br> OF UNDERWRITERS’ EXPENSES. |
|---|
If the sale of the Securities provided for herein is not consummated because any condition to the obligations of the Underwriters set forth in Section 6 hereof is not satisfied, because of any termination pursuant to Section 10 hereof (other than clauses (ii), (iii) or (vi) thereof) or because of any refusal, inability or failure on the part of the Company to perform any agreement herein or comply with any provision hereof other than by reason of a default by the Underwriters, the Company will reimburse the Underwriters severally on demand for all reasonable out-of-pocket expenses (including reasonable fees and disbursements of counsel, but, in no event, shall expenses include taxes imposed on the net income of an Underwriters) that shall have been incurred by them in connection with the proposed purchase and sale of the Securities.
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| 8. | INDEMNIFICATION<br> AND CONTRIBUTION. |
|---|
(a) The Company agrees to indemnify and hold harmless each Underwriter, the directors, officers, employees and agents of the Underwriters, each person who controls the Underwriters within the meaning of either the Act or the Exchange Act and each affiliate, director, officer, employee, or agent of the Underwriters against any and all losses, claims, damages, expenses or liabilities, joint or several, to which they or any of them may become subject under the Act, the Exchange Act or other Federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in the Registration Statement for the registration of the Securities as originally filed or in any amendment thereof, the Business Combination securities disclosure documents, any Preliminary Prospectus, the Statutory Prospectus, the Prospectus or the Free Writing Prospectus, any “road show” as defined in Rule 433(h) of the Act or any Written Testing-the-Waters Communication or in any amendment thereof or supplement thereto, any application or other document or written communication executed by the Company or based upon written information furnished by the Company in any jurisdiction in order to qualify the Securities under the securities laws thereof or filed with the Commission, any foreign or state securities commission or agency, Nasdaq, The New York Stock Exchange, Nasdaq Global Select Market any other securities exchange or the Over-the-Counter Bulletin Board (the “OTCBB”); or any post-effective amendments to the Registration Statement or Prospectus or new Registration Statement or Prospectus filed by the Company with the Commission, any state securities commission or agency, OTCBB or any securities exchange, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action and against any and all loss, liability, claim, damage and expense whatsoever, as incurred, to the extent of the aggregate amount paid in settlement of any litigation, or any investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon any such untrue statement or omission, or any such alleged untrue statement or omission; provided that any such settlement is effected with the written consent of the Company; provided, however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of the Underwriters specifically for inclusion therein, it being understood and agreed that the only such information furnished by the Underwriters consists of the information described in the last sentence of Section 8(b) hereof. This indemnity agreement will be in addition to any liability that the Company may otherwise have.
(b) The Underwriters agree to indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Registration Statement, and each person who controls the Company within the meaning of either the Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company to the Underwriters, but only with reference to written information relating to the Underwriters furnished to the Company by or on behalf of such Underwriters specifically for inclusion in the documents referred to in the foregoing indemnity. This indemnity agreement will be in addition to any liability that the Underwriters may otherwise have. The Company acknowledges that the statements set forth under the heading “Underwriting,” (x) the name of each Underwriter and its role and participation in the sale of the Securities, (y) the sentences related to concessions and reallowances and the Underwriters’ intention not to make sales to discretionary accounts, and (z) the paragraphs related to stabilization, syndicate covering transactions and penalty bids, in the Preliminary Prospectus, the Statutory Prospectus and the Prospectus constitute the only information furnished in writing by or on behalf of the Underwriters for inclusion in the documents referred to in the foregoing indemnity.
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(c) Promptly after receipt by an indemnified party under this Section 8 of notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 8, notify the indemnifying party in writing of the commencement thereof; but the failure so to notify the indemnifying party will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the forfeiture by the indemnifying party of material rights and defenses and will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph (a) or (b) above. The indemnifying party shall be entitled to appoint counsel of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel retained by the indemnified party or parties except as set forth below); provided, however, that such counsel shall be satisfactory to the indemnified party. Notwithstanding the indemnifying party’s election to appoint counsel to represent the indemnified party in an action, the indemnified party shall have the right to employ separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (ii) the actual or potential defendants in, or targets of, any such action include both the indemnified party and the indemnifying party and the indemnified party shall have reasonably concluded that there may be legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party, (iii) the indemnifying party shall not have employed counsel satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the institution of such action or (iv) the indemnifying party shall authorize the indemnified party to employ separate counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties (which consent shall not be unreasonably withheld, delayed or conditioned), settle or compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder (whether or not the indemnified parties are actual or potential parties to such claim or action) unless (i) such settlement, compromise or consent includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of any indemnified party. If at any time an indemnified party shall have requested an indemnifying party to reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees that it shall be liable for any settlement of any proceeding effected without its written consent if (i) such settlement is entered into more than 45 days after receipt by such indemnifying party of the aforesaid request, (ii) such indemnifying party shall have received notice of the terms of such settlement at least 45 days prior to such settlement being entered into and (iii) such indemnifying party shall not have reimbursed such indemnified party in accordance with such request prior to the date of such settlement.
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(d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 8 is unavailable to or insufficient to hold harmless an indemnified party for any reason, the Company and the Underwriters severally agree to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in connection with investigating or defending the same) (collectively “Losses”) to which the Company and the Underwriters may be subject in such proportion as is appropriate to reflect the relative benefits received by the Company on the one hand and by the Underwriters on the other from the Offering; provided, however, that in no case shall the Underwriters (except as may be provided in any other agreement with the Underwriters relating to the Offering) be responsible for any amount in excess of the underwriting discount or commission applicable to the Securities purchased by such Underwriters hereunder. If the allocation provided by the immediately preceding sentence is unavailable for any reason, the Company and the Underwriters severally shall contribute in such proportion as is appropriate to reflect not only such relative benefits but also the relative fault of the Company on the one hand and of the Underwriters on the other in connection with the statements or omissions that resulted in such Losses as well as any other relevant equitable considerations. Benefits received by the Company shall be deemed to be equal to the total net proceeds from the Offering (before deducting expenses) received by it, and benefits received by the Underwriters shall be deemed to be equal to the total underwriting discounts and commissions, in each case as set forth on the cover page of the Prospectus. Relative fault shall be determined by reference to, among other things, whether any untrue or any alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information provided by the Company on the one hand or the Underwriters on the other, the intent of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. The Company and the Underwriters agree that it would not be just and equitable if contribution were determined by pro rata allocation or any other method of allocation that does not take account of the equitable considerations referred to above. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 8, each person who controls the Underwriters within the meaning of either the Act or the Exchange Act and each director, officer, employee and agent of the Underwriters shall have the same rights to contribution as such Underwriters, and each person who controls the Company within the meaning of either the Act or the Exchange Act, each officer of the Company who shall have signed the Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and conditions of this paragraph (d).
(e) In any proceeding relating to the Registration Statement, the Preliminary Prospectus, the Statutory Prospectus, any Written Testing-the-Waters Communication, the Prospectus or any supplement or amendment thereto, each party against whom contribution may be sought under this Section 8 hereby consents to the exclusive jurisdiction of the federal courts of the United States of America located in the City and County of New York, Borough of Manhattan and the courts of the State of New York located in the City and County of New York, Borough of Manhattan (collectively, the “Specified Courts”), agrees that process issuing from such courts may be served upon it by any other contributing party and consents to the service of such process and agrees that any other contributing party may join it as an additional defendant in any such proceeding in which such other contributing party is a party.
35
(f) Any losses, claims, damages, liabilities or expenses for which an indemnified party is entitled to indemnification or contribution under this Section 8 shall be paid by the indemnifying party to the indemnified party as such losses, claims, damages, liabilities or expenses are incurred. The indemnity and contribution agreements contained in this Section 8 and the representations and warranties of the Company set forth in this Agreement shall remain operative and in full force and effect, regardless of (i) any investigation made by or on behalf of the Underwriters, its directors or officers or any person controlling the Underwriters, the Company, its directors or officers or any persons controlling the Company, (ii) acceptance of any Securities and payment therefor hereunder, and (iii) any termination of this Agreement. A successor to the Underwriters, its directors or officers or any person controlling the Underwriters, or to the Company, its directors or officers, or any person controlling the Company, shall be entitled to the benefits of the indemnity, contribution and reimbursement agreements contained in this Section 8.
| 9. | DEFAULT<br> BY THE UNDERWRITERS. |
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If the Underwriters shall fail to purchase and pay for any of the Securities agreed to be purchased by such Underwriters, such failure to purchase shall constitute a default in the performance of its or their obligations under this Agreement. If within one Business Day after such default relating to more than 10% of the Underwritten Securities the Underwriters do not arrange for the purchase of such Underwritten Securities, then the Company shall be entitled to a further period of two Business Days within which to procure another party or parties reasonably satisfactory to the Underwriters to purchase said Underwritten Securities. In the event that neither the Underwriters nor the Company purchase or arrange for the purchase of all of the Underwritten Securities to which a default relates as provided in this Section 9, this Agreement will terminate without liability to any non-defaulting party. In the event of a default by the Underwriters as set forth in this Section 9, the Closing Date shall be postponed for such period, not exceeding five Business Days, in order that the required changes in the Registration Statement and the Prospectus or in any other documents or arrangements may be effected. Nothing contained in this Agreement shall relieve the defaulting Underwriter of its liability, if any, to the Company for damages occasioned by its default hereunder.
| 10. | TERMINATION. |
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This Agreement shall be subject to termination in the absolute discretion of the Underwriters, by notice given to the Company prior to delivery of and payment for the Securities, if at any time prior to such delivery and payment any of the following has occurred: (i) trading in the Company’s Ordinary Shares shall have been suspended by the Commission, or trading in securities generally on the New York Stock Exchange or the Nasdaq shall have been suspended or limited or minimum prices shall have been established on such exchange or trading market, (ii) a banking moratorium shall have been declared either by Federal or New York State authorities, (iii) there shall have occurred any outbreak or escalation of hostilities, declaration by the United States of a national emergency or war, or other national or international calamity or crisis (including, without limitation, an act of terrorism) or change in economic or political conditions the effect of which on financial markets is such as to make it, in the sole judgment of the Underwriters, impractical or inadvisable to proceed with the offering or delivery of the Securities as contemplated by the Statutory Prospectus or the Prospectus (exclusive of any supplement thereto), (iv) since the respective dates as of which information is given in the Registration Statement, the Statutory Prospectus and the Prospectus, any material adverse change or any development involving a prospective material adverse change in or affecting the earnings, business, management, properties, assets, rights, operations, condition (financial or otherwise) or prospects of the Company, whether or not arising in the ordinary course of business, (v) the enactment, publication, decree or other promulgation of any statute, regulation, rule or order of any court or other governmental authority which in the Underwriters’ opinion materially and adversely affects or may materially and adversely affect the business or operations of the Company, or (vi) the taking of any action by any governmental body or agency in respect of its monetary or fiscal affairs which in each Underwriter’s opinion has a material adverse effect on the securities markets in the United States.
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| 11. | REPRESENTATIONS<br> AND INDEMNITIES TO SURVIVE. |
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The respective agreements, representations, warranties, indemnities and other statements of the Company or its officers and of the Underwriters set forth in or made pursuant to this Agreement will remain in full force and effect, regardless of any investigation made by or on behalf of the Underwriters or the Company or any of the officers, directors, employees, agents or controlling persons referred to in Section 8 hereof, and will survive delivery of and payment for the Securities. The provisions of Sections 7 and 8 hereof shall survive the termination or cancellation of this Agreement.
| 12. | NOTICES. |
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All communications hereunder will be in writing and effective only on receipt, and will be mailed, delivered or telefaxed.
If to the Underwriters:
Leerink Partners LLC
1301 Avenue of the Americas, 5th Floor
New York, New York 10019
Attention: Stuart Nayman
Email: Stuart.Nayman@leerink.com
Oppenheimer & Co.
85 Broad Street
New York, New York 10004
Attention: Equity Capital Markets
(with a copy to Oppenheimer & Co. Inc., 85 Broad Street, New York, New York
10004 Attention: General Counsel)
Copy (which copy shall not constitute notice) to:
Kirkland & Ellis LLP
601 Lexington Avenue
New York, New York 10022
Attention: Christian O. Nagler, P.C.
Email: Christian.Nagler@kirkland.com
37
If to the Company:
Helix Acquisition Corp. III
c/o Cormorant Asset Management, LLC
200 Clarendon Street, 52nd Floor
Boston, MA 02116
Attention: Caleb Tripp
Email: Caleb@cormorant-asset.com
Copy (which copy shall not constitute notice) to:
White & Case LLP
1221 Avenue of the Americas
New York, New York 10020
Attention: Joel L. Rubinstein
Email: joel.rubinstein@whitecase.com
| 13. | SUCCESSORS. |
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This Agreement will inure to the benefit of and be binding upon the parties hereto and their respective successors and the officers, directors, employees, agents and controlling persons referred to in Section 8 hereof, and no other person will have any right or obligation hereunder.
| 14. | NO<br> FIDUCIARY DUTY. |
|---|
The Company hereby acknowledges that (a) the purchase and sale of the Securities pursuant to this Agreement is an arm’s-length commercial transaction between the Company, on the one hand, and the Underwriters and any affiliate through which any of them may be acting, on the other, (b) each Underwriters is acting as principal and not as an agent or fiduciary of the Company and (c) the Company’s engagement of the Underwriters in connection with the Offering and the process leading up to the Offering is as an independent contractor and not in any other capacity. Furthermore, the Company agrees that it is solely responsible for making its own judgments in connection with the Offering (irrespective of whether the Underwriters have advised or is currently advising the Company on related or other matters). The Company agrees that it will not claim that the Underwriters have rendered advisory services of any nature or respect, or owes an agency, fiduciary or similar duty to the Company, in connection with such transaction or the process leading thereto. None of the activities of the Underwriters in connection with the transactions contemplated herein constitutes a recommendation, investment advice, or solicitation of any action by the Underwriters with respect to any entity or natural person.
| 15. | RECOGNITION<br> OF THE U.S. SPECIAL RESOLUTION REGIMES. |
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(a) In the event that the Underwriter that is a Covered Entity becomes subject to a proceeding under a U.S. Special Resolution Regime, the transfer from such Underwriter of this Agreement, and any interest and obligation in or under this Agreement, will be effective to the same extent as the transfer would be effective under the U.S. Special Resolution Regime if this Agreement, and any such interest and obligation, were governed by the laws of the United States or a state of the United States.
38
(b) In the event that the Underwriter that is a Covered Entity or a BHC Act Affiliate of such Underwriter becomes subject to a proceeding under a U.S. Special Resolution Regime, Default Rights under this Agreement that may be exercised against such Underwriter are permitted to be exercised to no greater extent than such Default Rights could be exercised under the U.S. Special Resolution Regime if this Agreement were governed by the laws of the United States or a state of the United States.
For purposes of this Section 15: (A) a “BHC Act Affiliate” has the meaning assigned to the term “affiliate” in, and shall be interpreted in accordance with, 12 U.S.C. § 1841(k); (B) “Covered Entity” means any of the following: (i) a “covered entity” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 252.82(b); (ii) a “covered bank” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 47.3(b); or (iii) a “covered FSI” as that term is defined in, and interpreted in accordance with, 12 C.F.R. § 382.2(b); (C) “Default Right” has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable; and (D) “U.S. Special Resolution Regime” means each of (i) the Federal Deposit Insurance Act and the regulations promulgated thereunder and (ii) Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the regulations promulgated thereunder.
| 16. | INTEGRATION. |
|---|
This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the Underwriters, or any of them, with respect to the subject matter hereof.
| 17. | APPLICABLE<br> LAW. |
|---|
This Agreement will be governed by and construed in accordance with the laws of the State of New York applicable to contracts made and to be performed within the State of New York. Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby shall be instituted in the Specified Courts, and each party irrevocably submits to the exclusive jurisdiction (except for proceedings instituted in regard to the enforcement of a judgment of any such court, as to which such jurisdiction is non-exclusive) of such courts in any such suit, action or proceeding. Service of any process, summons, notice or document by mail to such party’s address set forth above shall be effective service of process for any suit, action or other proceeding brought in any such court. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or other proceeding in the Specified Courts and irrevocably and unconditionally waive and agree not to plead or claim in any such court that any such suit, action or other proceeding brought in any such court has been brought in an inconvenient forum.
39
| 18. | WAIVER<br> OF JURY TRIAL. |
|---|
THE COMPANY HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.
| 19. | COUNTERPARTS;<br> ELECTRONIC SIGNATURES. |
|---|
This Agreement may be signed in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the same agreement. Delivery of this Agreement by one party to the other may be made by facsimile, electronic mail (including any electronic signature complying with the New York Electronic Signatures and Records Act (N.Y. State Tech. §§ 301-309), as amended from time to time, or other applicable law) or other transmission method, and the parties hereto agree that any counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.
| 20. | HEADINGS. |
|---|
The section headings used herein are for convenience only and shall not affect the construction hereof.
| 21. | DEFINITIONS. |
|---|
The terms that follow, when used in this Agreement, shall have the meanings indicated.
“Act” means the Securities Act of 1933, as amended, and the rules and regulations of the Commission promulgated thereunder.
“ApplicableTime” means 10:05 p.m. (New York time) on the date of this Agreement.
“BusinessCombination” means, as more fully described in the Registration Statement, a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities.
“BusinessDay” means any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to close in New York City.
“Commission” means the U.S. Securities and Exchange Commission.
“EffectiveDate” means each date and time that the Registration Statement, any post-effective amendment or amendments thereto and any Rule 462(b) Registration Statement became or becomes effective.
“ExchangeAct” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the Commission promulgated thereunder.
40
“ExecutionTime” means the date and time that this Agreement is executed and delivered by the parties hereto.
“FreeWriting Prospectus” means a free writing prospectus, as defined in Rule 405.
“Liquidation” means the distributions of the Trust Account to the Public Shareholders in connection with the redemption of Ordinary Shares held by the Public Shareholders pursuant to the terms of the Amended and Restated Memorandum and Articles of Association if the Company fails to consummate a Business Combination.
“Private Placement Shares” means 475,000 private placement shares (or 497,500 private placement shares if the over-allotment option is exercised in full), each entitling such holder to purchase one Ordinary Share at an exercise price of $10.00.
“PreliminaryProspectus” means any preliminary prospectus referred to in paragraph 1(a) above and any preliminary prospectus included in the Registration Statement at the Effective Date that omits Rule 430A Information.
“Prospectus” means the prospectus relating to the Securities that is first filed pursuant to Rule 424(b) after the Execution Time.
“RegistrationStatement” means the registration statements referred to in paragraph 1(a) above, including exhibits and financial statements and any prospectus and prospectus supplement relating to the Securities that is filed with the Commission pursuant to Rule 424(b) and deemed part of such registration statement pursuant to Rule 430A, as amended at the Execution Time and, in the event any post-effective amendment thereto or any Rule 462(b) Registration Statement becomes effective prior to the Closing Date, shall also mean such registration statement as so amended or such Rule 462(b) Registration Statement, as the case may be.
“Rule158”, “Rule 172”, “Rule 405”, “Rule 419”, “Rule 424(b)”, “Rule 430A”, “Rule 433”, “Rule 433(h)” and “Rule 462(b)” refer to such rules under the Act.
“Rule430A Information” means information with respect to the Securities and the offering thereof permitted to be omitted from the Registration Statement when it becomes effective pursuant to Rule 430A.
“Rule462(b) Registration Statement” means a registration statement and any amendments thereto filed pursuant to Rule 462(b) relating to the offering covered by the registration statement referred to in Section 1(a) hereof.
“Statutory Prospectus” means (i) the Preliminary Prospectus, dated January 16, 2026, relating to the Securities and (ii) the Time of Delivery Information, if any, set forth on Schedule II hereto.
“Testing-the-WatersCommunication” means any oral or written communication with potential investors undertaken in reliance on Section 5(d) of the Act.
[Remainderof page intentionally left blank]
41
If the foregoing is in accordance with your understanding of our agreement, please sign and return to us the enclosed duplicate hereof, whereupon it will become a binding agreement among the Company and the Underwriters in accordance with its terms.
| Very truly yours, | |
|---|---|
| HELIX ACQUISITION CORP. III | |
| By: | /s/<br>Bihua Chen |
| Name: | Bihua Chen |
| Title: | Chief Executive Officer |
[SignaturePage to Underwriting Agreement]
| The foregoing<br> Underwriting Agreement is<br><br> hereby confirmed and accepted as of the<br><br> date first above written. | |
|---|---|
| LEERINK PARTNERS LLC | |
| By: | /s/ Dan Dubin, M.D. |
| Name: | Dan Dubin, M.D. |
| Title: | Vice Chairman, Global Co-Head<br> of Investment Banking |
| OPPENHEIMER & CO. INC. | |
| --- | --- |
| By: | /s/ Michael Margolis, R.Ph. |
| Name: | Michael Margolis, R.Ph. |
| Title: | Senior Managing Director,<br><br><br>Head of Healthcare Investment Banking |
[SignaturePage to Underwriting Agreement]
Schedule I
| Underwriter | Number of<br><br> Underwritten<br><br> Securities<br><br> to be<br><br> Purchased | |
|---|---|---|
| Leerink Partners LLC | 12,750,000 | |
| Oppenheimer & Co. | 2,250,000 | |
| Total | 15,000,000 |
Schedule II
TIME OF DELIVERY INFORMATION
[Omitted]
Schedule III
SCHEDULE OF WRITTEN TESTING-THE-WATERS COMMUNICATIONS
[Omitted]
Exhibit 3.1
Registrar of Companies
Government Administration Building
133 Elgin Avenue
George Town
Grand Cayman
**Helix Acquisition Corp. III (ROC #425625) (**the **“**Company”)
TAKENOTICE that by unanimous written resolution of the shareholders of the Company dated 16 January 2026 and effective on 22 January 2026, the following special resolution was passed:
| 1 | Adoption of Amended and Restated Memorandum and Articles of Association |
|---|---|
| It is resolved as a special resolution<br>that, with effect from the effective time and date of the Company’s Registration Statement on Form 8-A as filed with the United States<br>Securities and Exchange Commission, the Memorandum and Articles of Association of the Company currently in effect be amended and restated<br>by the deletion in their entirety and the substitution in their place of the Amended and Restated Memorandum and Articles of Association<br>annexed hereto. | |
| /s/ Ashley Jervis | |
| --- | |
| Ashley Jervis | |
| Corporate Administrator | |
| for and on behalf of | |
| Maples Corporate Services Limited |
Dated this 23rd day of January 2026
| www.verify.gov.ky File#: 425625 |
|---|
THE COMPANIES ACT (AsRevised)
OF THE CAYMAN ISLANDS
COMPANY LIMITED BY SHARES
AMENDED AND RESTATED
MEMORANDUM AND ARTICLES OF ASSOCIATION
OF
HELIX ACQUISITION CORP. III
(adoptedby special resolution dated 16 January 2026 and effective on 22 January 2026)
| www.verify.gov.ky File#: 425625 |
|---|
THECOMPANIES ACT (As Revised)
OF THE CAYMAN ISLANDS
COMPANY LIMITED BY SHARES
AMENDED AND RESTATED
MEMORANDUM OF ASSOCIATION
OF
HELIX ACQUISITION CORP. III
(adoptedby special resolution dated 16 January 2026 and effective on 22 January 2026)
| 1 | The name of the Company is Helix Acquisition Corp. III. |
|---|---|
| 2 | The Registered Office of the Company shall be at the offices of Maples Corporate Services Limited, PO<br>Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands, or at such other place within the Cayman Islands as the Directors may decide. |
| --- | --- |
| 3 | The objects for which the Company is established are unrestricted and the Company shall have full power<br>and authority to carry out any object not prohibited by the laws of the Cayman Islands. |
| --- | --- |
| 4 | The liability of each Member is limited to the amount unpaid on such Member’s shares. |
| --- | --- |
| 5 | The share capital of the Company is US$55,500 divided into 500,000,000 Class A ordinary shares of a par<br>value of US$0.0001 each, 50,000,000 Class B ordinary shares of a par value of US$0.0001 each and 5,000,000 preference shares of a par<br>value of US$0.0001 each. |
| --- | --- |
| 6 | The Company has power to register by way of continuation as a body corporate limited by shares under the<br>laws of any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands. |
| --- | --- |
| 7 | Capitalised terms that are not defined in this Amended and Restated Memorandum of Association bear the<br>respective meanings given to them in the Amended and Restated Articles of Association of the Company. |
| --- | --- |
| www.verify.gov.ky File#: 425625 | |
| --- |
THECOMPANIES ACT (As Revised)
OF THE CAYMAN ISLANDS
COMPANY LIMITED BY SHARES
AMENDED AND RESTATED
ARTICLES OF ASSOCIATION
OF
HELIX ACQUISITION CORP. III
(adoptedby special resolution dated 16 January 2026 and effective on 22 January 2026)
| 1 | Interpretation |
|---|---|
| 1.1 | In the Articles Table A in the First Schedule to the Statute does not apply and, unless there is something<br>in the subject or context inconsistent therewith: |
| --- | --- |
| “Affiliate” | in respect of a person, means any other person that, directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such person, and (a) in the case of a natural person, shall include, without limitation, such person’s spouse, parents, children, siblings, mother-in-law and father-in-law and brothers and sisters-in-law, whether by blood, marriage or adoption or anyone residing in such person’s home, a trust for the benefit of any of the foregoing, a company, partnership or any natural person or entity wholly or jointly owned by any of the foregoing and (b) in the case of an entity, shall include a partnership, a corporation or any natural person or entity which directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, such entity. |
| --- | --- |
| “Applicable Law” | means, with respect to any person, all provisions of laws, statutes, ordinances, rules, regulations, permits, certificates, judgments, decisions, decrees or orders of any governmental authority applicable to such person. |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 2 | |
| “Articles” | means these amended and restated articles of association of the Company. |
| --- | --- |
| “Audit Committee” | means the audit committee of the board of directors of the Company established pursuant to the Articles, or any successor committee. |
| “Auditor” | means the person for the time being performing the duties of auditor of the Company (if any). |
| “Business Combination” | means a merger, share exchange, asset acquisition, share purchase, reorganisation or similar business combination involving the Company, with one or more businesses or entities (the “target business”), which Business Combination: (a) as long as the securities of the Company are listed on The Nasdaq Stock Market LLC, must occur with one or more target businesses that together have an aggregate fair market value of at least 80% of the assets held in the Trust Account (excluding the deferred underwriting commissions and taxes payable on the interest earned on the Trust Account) at the time of the signing of the definitive agreement to enter into such Business Combination; and (b) must not be solely effectuated with another blank cheque company or a similar company with nominal operations. |
| “business day” | means any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorised or obligated by law to close in New York City. |
| “Clearing House” | means a clearing house recognised by the laws of the jurisdiction in which the Shares (or depositary receipts therefor) are listed or quoted on a stock exchange or interdealer quotation system in such jurisdiction. |
| “Class A Share” | means a Class A ordinary share of a par value of US$0.0001 in the share capital of the Company. |
| “Class B Share” | means a Class B ordinary share of a par value of US$0.0001 in the share capital of the Company. |
| “Company” | means the above named company. |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 3 | |
| “Company’s Website” | means the website of the Company and/or its web-address or domain name (if any). |
| --- | --- |
| “Compensation Committee” | means the compensation committee of the board of directors of the Company established pursuant to the Articles, or any successor committee. |
| “Designated Stock Exchange” | means any United States national securities exchange on which the securities of the Company are listed for trading, including The Nasdaq Stock Market LLC. |
| “Deadline Date” | has the meaning ascribed to it at Article 49.7. |
| “Directors” | means the directors for the time being of the Company. |
| “Dividend” | means any dividend (whether interim or final) resolved to be paid on Shares pursuant to the Articles. |
| “Electronic Communication” | means a communication sent by electronic means, including electronic posting to the Company’s Website, transmission to any number, address or internet website (including the website of the Securities and Exchange Commission) or other electronic delivery methods as otherwise decided and approved by the Directors. |
| “Electronic Record” | has the same meaning as in the Electronic Transactions Act. |
| “Electronic Transactions Act” | means the Electronic Transactions Act (As Revised) of the Cayman Islands. |
| “Equity-linked Securities” | means any debt or equity securities that are convertible, exercisable or exchangeable for Class A Shares issued in a financing transaction in connection with a Business Combination, including but not limited to a private placement of equity or debt. |
| “Exchange Act” | means the United States Securities Exchange Act of 1934, as amended, or any similar U.S. federal statute and the rules and regulations of the Securities and Exchange Commission thereunder, all as the same shall be in effect at the time. |
| “Founders” | means all Members immediately prior to the consummation of the IPO. |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 4 | |
| “Independent Director” | has the same meaning as in the rules and regulations of the Designated Stock Exchange or in Rule 10A-3 under the Exchange Act, as the case may be. |
| --- | --- |
| “IPO” | means the Company’s initial public offering of securities. |
| “Member” | has the same meaning as in the Statute. |
| “Memorandum” | means the amended and restated memorandum of association of the Company. |
| “Nominating and Corporate Governance Committee” | means the nominating and corporate governance committee of the board of directors of the Company established pursuant to the Articles, or any successor committee. |
| “Officer” | means a person appointed to hold an office in the Company. |
| “Ordinary Resolution” | means a resolution passed by a simple majority of the Members as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting, and includes a unanimous written resolution. In computing the majority when a poll is demanded regard shall be had to the number of votes to which each Member is entitled by the Articles. |
| “Over-Allotment Option” | means the option of the Underwriters to purchase up to an additional 15% of the firm Class A Shares issued in the IPO at a price equal to US$10 per Class A Share, less underwriting discounts and commissions. |
| “Preference Share” | means a preference share of a par value of US$0.0001 in the share capital of the Company. |
| “Public Share” | means a Class A Share issued in the IPO. |
| “Redemption Notice” | means a notice in a form approved by the Company by which a holder of Public Shares is entitled to require the Company to redeem its Public Shares, subject to any conditions contained therein. |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 5 | |
| “Register of Members” | means the register of Members maintained in accordance with the Statute and includes (except where otherwise stated) any branch or duplicate register of Members. |
| --- | --- |
| “Registered Office” | means the registered office for the time being of the Company. |
| “Representative” | means a representative of the Underwriters. |
| “Seal” | means the common seal of the Company and includes every duplicate seal. |
| “Securities and Exchange Commission” | means the United States Securities and Exchange Commission. |
| “Share” | means a Class A Share, a Class B Share or a Preference Share and includes a fraction of a share in the Company. |
| “Special Resolution” | subject to Articles 29.4 and 49.2, has the same meaning as in the Statute, and includes a unanimous written resolution. |
| “Sponsor” | means Helix Holdings III LLC, a Cayman Islands limited liability company, and its successors or assigns. |
| “Statute” | means the Companies Act (As Revised) of the Cayman Islands. |
| “Tax Filing Authorised Person” | means such person as any Director shall designate from time to time, acting severally. |
| “Treasury Share” | means a Share held in the name of the Company as a treasury share in accordance with the Statute. |
| “Trust Account” | means the trust account established by the Company upon the consummation of the IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of Shares simultaneously with the closing date of the IPO or otherwise, will be deposited. |
| “Underwriter” | means an underwriter of the IPO from time to time and any successor underwriter. |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 6 | |
| 1.2 | In the Articles: |
| --- | --- |
| (a) | words importing the singular number include the plural number and vice versa; |
| --- | --- |
| (b) | words importing the masculine gender include the feminine gender; |
| --- | --- |
| (c) | words importing persons include corporations as well as any other legal or natural person; |
| --- | --- |
| (d) | “written” and “in writing” include all modes of representing or reproducing words<br>in visible form, including in the form of an Electronic Record; |
| --- | --- |
| (e) | “shall” shall be construed as imperative and “may” shall be construed as permissive; |
| --- | --- |
| (f) | references to provisions of any law or regulation shall be construed as references to those provisions<br>as amended, modified, re-enacted or replaced; |
| --- | --- |
| (g) | any phrase introduced by the terms “including”, “include”, “in particular”<br>or any similar expression shall be construed as illustrative and shall not limit the sense of the words preceding those terms; |
| --- | --- |
| (h) | the term “and/or” is used to mean both “and” as well as “or.” The use of<br>“and/or” in certain contexts in no respects qualifies or modifies the use of the terms “and” or “or” in<br>others. The term “or” shall not be interpreted to be exclusive and the term “and” shall not be interpreted to require<br>the conjunctive (in each case, unless the context otherwise requires); |
| --- | --- |
| (i) | headings are inserted for reference only and shall be ignored in construing the Articles; |
| --- | --- |
| (j) | any requirements as to delivery under the Articles include delivery in the form of an Electronic Record; |
| --- | --- |
| (k) | any requirements as to execution or signature under the Articles including the execution of the Articles<br>themselves can be satisfied in the form of an electronic signature as defined in the Electronic Transactions Act; |
| --- | --- |
| (l) | sections 8 and 19(3) of the Electronic Transactions Act shall not apply; |
| --- | --- |
| (m) | the term “clear days” in relation to the period of a notice means that period excluding the<br>day when the notice is received or deemed to be received and the day for which it is given or on which it is to take effect; and |
| --- | --- |
| (n) | the term “holder” in relation to a Share means a person whose name is entered in the Register<br>of Members as the holder of such Share. |
| --- | --- |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 7 | |
| 2 | Commencement of Business |
| --- | --- |
| 2.1 | The business of the Company may be commenced as soon after incorporation of the Company as the Directors<br>shall see fit. |
| --- | --- |
| 2.2 | The Directors may pay, out of the capital or any other monies of the Company, all expenses incurred in<br>or about the formation and establishment of the Company, including the expenses of registration. |
| --- | --- |
| 3 | Issue of Shares |
| --- | --- |
| 3.1 | Subject to the provisions, if any, in the Memorandum (and to any direction that may be given by the Company<br>in general meeting) and, where applicable, the rules and regulations of the Designated Stock Exchange, the Securities and Exchange Commission<br>and/or any other competent regulatory authority or otherwise under Applicable Law, and without prejudice to any rights attached to any<br>existing Shares, the Directors may allot, issue, grant options over or otherwise dispose of Shares (including fractions of a Share) with<br>or without preferred, deferred or other rights or restrictions, whether in regard to Dividends or other distributions, voting, return<br>of capital or otherwise and to such persons, at such times and on such other terms as they think proper, and may also (subject to the<br>Statute and the Articles) vary such rights, save that the Directors shall not allot, issue, grant options over or otherwise dispose of<br>Shares (including fractions of a Share) to the extent that it may affect the ability of the Company to carry out a Class B Share Conversion<br>set out in the Articles. |
| --- | --- |
| 3.2 | The Company shall not issue Shares to bearer. |
| --- | --- |
| 4 | Register of Members |
| --- | --- |
| 4.1 | The Company shall maintain or cause to be maintained the Register of Members in accordance with the Statute. |
| --- | --- |
| 4.2 | The Directors may determine that the Company shall maintain one or more branch registers of Members in<br>accordance with the Statute. The Directors may also determine which register of Members shall constitute the principal register and which<br>shall constitute the branch register or registers, and to vary such determination from time to time. |
| --- | --- |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 8 | |
| 5 | Closing Register of Members or Fixing Record Date |
| --- | --- |
| 5.1 | For the purpose of determining Members entitled to notice of, or to vote at any meeting of Members or<br>any adjournment thereof, or Members entitled to receive payment of any Dividend or other distribution, or in order to make a determination<br>of Members for any other purpose, the Directors may, after notice has been given by advertisement in an appointed newspaper or any other<br>newspaper or by any other means in accordance with the rules and regulations of the Designated Stock Exchange, the Securities and Exchange<br>Commission and/or any other competent regulatory authority or otherwise under Applicable Law, provide that the Register of Members shall<br>be closed for transfers for a stated period which shall not in any case exceed forty days. |
| --- | --- |
| 5.2 | In lieu of, or apart from, closing the Register of Members, the Directors may fix in advance or arrears<br>a date as the record date for any such determination of Members entitled to notice of, or to vote at any meeting of the Members or any<br>adjournment thereof, or for the purpose of determining the Members entitled to receive payment of any Dividend or other distribution,<br>or in order to make a determination of Members for any other purpose. |
| --- | --- |
| 5.3 | If the Register of Members is not so closed and no record date is fixed for the determination of Members<br>entitled to notice of, or to vote at, a meeting of Members or Members entitled to receive payment of a Dividend or other distribution,<br>the date on which notice of the meeting is sent or the date on which the resolution of the Directors resolving to pay such Dividend or<br>other distribution is passed, as the case may be, shall be the record date for such determination of Members. When a determination of<br>Members entitled to vote at any meeting of Members has been made as provided in this Article, such determination shall apply to any adjournment<br>thereof. |
| --- | --- |
| 6 | Certificates for Shares |
| --- | --- |
| 6.1 | A Member shall only be entitled to a share certificate if the Directors resolve that share certificates<br>shall be issued. Share certificates representing Shares, if any, shall be in such form as the Directors may determine. Share certificates<br>shall be signed by one or more Directors or other person authorised by the Directors. The Directors may authorise certificates to be issued<br>with the authorised signature(s) affixed by mechanical process. All certificates for Shares shall be consecutively numbered or otherwise<br>identified and shall specify the Shares to which they relate. All certificates surrendered to the Company for transfer shall be cancelled<br>and, subject to the Articles, no new certificate shall be issued until the former certificate representing a like number of relevant Shares<br>shall have been surrendered and cancelled. |
| --- | --- |
| 6.2 | The Company shall not be bound to issue more than one certificate for Shares held jointly by more than<br>one person and delivery of a certificate to one joint holder shall be a sufficient delivery to all of them. |
| --- | --- |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 9 | |
| 6.3 | If a share certificate is defaced, worn out, lost or destroyed, it may be renewed on such terms (if any)<br>as to evidence and indemnity and on the payment of such expenses reasonably incurred by the Company in investigating evidence, as the<br>Directors may prescribe, and (in the case of defacement or wearing out) upon delivery of the old certificate. |
| --- | --- |
| 6.4 | Every share certificate sent in accordance with the Articles will be sent at the risk of the Member or<br>other person entitled to the certificate. The Company will not be responsible for any share certificate lost or delayed in the course<br>of delivery. |
| --- | --- |
| 6.5 | Share certificates shall be issued within the relevant time limit as prescribed by the Statute, if applicable,<br>or as the rules and regulations of the Designated Stock Exchange, the Securities and Exchange Commission and/or any other competent regulatory<br>authority or otherwise under Applicable Law may from time to time determine, whichever is shorter, after the allotment or, except in the<br>case of a Share transfer which the Company is for the time being entitled to refuse to register and does not register, after lodgement<br>of a Share transfer with the Company. |
| --- | --- |
| 7 | Transfer of Shares |
| --- | --- |
| 7.1 | Subject to the terms of the Articles, any Member may transfer all or any of their Shares by an instrument<br>of transfer provided that such transfer complies with the rules and regulations of the Designated Stock Exchange, the Securities and Exchange<br>Commission and/or any other competent regulatory authority or otherwise under Applicable Law. |
| --- | --- |
| 7.2 | The instrument of transfer of any Share shall be in writing in the usual or common form or in a form prescribed<br>by the rules and regulations of the Designated Stock Exchange, the Securities and Exchange Commission and/or any other competent regulatory<br>authority or otherwise under Applicable Law or in any other form approved by the Directors and shall be executed by or on behalf of the<br>transferor (and if the Directors so require, signed by or on behalf of the transferee) and may be under hand or, if the transferor or<br>transferee is a Clearing House or its nominee(s), by hand or by machine imprinted signature or by such other manner of execution as the<br>Directors may approve from time to time. The transferor shall be deemed to remain the holder of a Share until the name of the transferee<br>is entered in the Register of Members. |
| --- | --- |
| www.verify.gov.ky File#: 425625 | |
| --- | |
| 10 | |
| 8 | Redemption, Repurchase and Surrender of Shares |
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| 8.1 | Subject to the provisions of the Statute, and, where applicable, the rules and regulations of the Designated<br>Stock Exchange, the Securities and Exchange Commission and/or any other competent regulatory authority or otherwise under Applicable Law,<br>the Company may issue Shares that are to be redeemed or are liable to be redeemed at the option of the Member or the Company. The redemption<br>of such Shares, except Public Shares, shall be effected in such manner and upon such other terms as the Company, by Ordinary Resolution,<br>may determine before the issue of such Shares. With respect to redeeming or repurchasing the Shares: |
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| (a) | Members who hold Public Shares are entitled to request the redemption of such Shares in the circumstances<br>described in the Business Combination Article hereof; |
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| (b) | Class B Shares held by the Sponsor shall be surrendered by the Sponsor for no consideration on a pro-rata<br>basis to the extent that the Over-Allotment Option is not exercised in full so that the Sponsor will own 20% of the Company’s issued Shares<br>after the IPO (exclusive of any securities purchased in a private placement simultaneously with the IPO); and |
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| (c) | Public Shares shall be repurchased by way of tender offer in the circumstances set out in the Business<br>Combination Article hereof. |
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| 8.2 | Subject to the provisions of the Statute, and, where applicable, the rules and regulations of the Designated<br>Stock Exchange, the Securities and Exchange Commission and/or any other competent regulatory authority or otherwise under Applicable Law,<br>the Company may purchase its own Shares (including any redeemable Shares) in such manner and on such other terms as the Directors may<br>agree with the relevant Member. For the avoidance of doubt, redemptions, repurchases and surrenders of Shares in the circumstances described<br>in the Article above shall not require further approval of the Members. |
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| 8.3 | The Company may make a payment in respect of the redemption or purchase of its own Shares in any manner<br>permitted by the Statute, including out of capital. |
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| 8.4 | The Directors may accept the surrender for no consideration of any fully paid Share. |
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| 9 | Treasury Shares |
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| 9.1 | The Directors may, prior to the purchase, redemption or surrender of any Share, determine that such Share<br>shall be held as a Treasury Share. |
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| 9.2 | The Directors may determine to cancel a Treasury Share or transfer a Treasury Share on such terms as they<br>think proper (including, without limitation, for nil consideration). |
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| 10 | Variation of Rights of Shares |
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| 10.1 | Subject to Article 3.1, if at any time the share capital of the Company is divided into different classes<br>of Shares, all or any of the rights attached to any class (unless otherwise provided by the terms of issue of the Shares of that class)<br>may, whether or not the Company is being wound up, be varied without the consent of the holders of the issued Shares of that class where<br>such variation is considered by the Directors not to have a material adverse effect upon such rights; otherwise, any such variation shall<br>be made only with the consent in writing of the holders of not less than two-thirds of the issued Shares of that class (other than with<br>respect to a waiver of the provisions of the Class B Share Conversion Article hereof, which as stated therein shall only require the consent<br>in writing of the holders of a majority of the issued Shares of that class), or with the approval of a resolution passed by a majority<br>of not less than two-thirds of the votes cast at a separate meeting of the holders of the Shares of that class. For the avoidance of doubt,<br>the Directors reserve the right, notwithstanding that any such variation may not have a material adverse effect, to obtain consent from<br>the holders of Shares of the relevant class. To any such meeting all the provisions of the Articles relating to general meetings shall<br>apply mutatis mutandis, except that the necessary quorum shall be one person holding or representing by proxy at least one-third<br>of the issued Shares of the class and that any holder of Shares of the class present in person or by proxy may demand a poll. |
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| 10.2 | For the purposes of a separate class meeting, the Directors may treat two or more or all the classes of<br>Shares as forming one class of Shares if the Directors consider that such class of Shares would be affected in the same way by the proposals<br>under consideration, but in any other case shall treat them as separate classes of Shares. |
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| 10.3 | The rights conferred upon the holders of the Shares of any class issued with preferred or other rights<br>shall not, unless otherwise expressly provided by the terms of issue of the Shares of that class, be deemed to be varied: |
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| (a) | by the creation or issue of further Shares ranking pari passu therewith or Shares issued with preferred<br>or other rights; |
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| (b) | where the constitutional documents of the Company are amended or new constitutional documents of the Company<br>are adopted, in each case, as a result of the Company registering by way of continuation as a body corporate under the laws of any jurisdiction<br>outside the Cayman Islands; or |
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| (c) | by the conversion of any Class B Shares pursuant to the Class B Ordinary Share Conversion Article. |
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| 11 | Commission on Sale of Shares |
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The Company may, in so far as the Statute permits, pay a commission to any person in consideration of that person subscribing or agreeing to subscribe (whether absolutely or conditionally) or procuring or agreeing to procure subscriptions (whether absolutely or conditionally) for any Shares. Such commissions may be satisfied by the payment of cash and/or the issue of fully or partly paid-up Shares. The Company may also on any issue of Shares pay such brokerage as may be lawful.
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| 12 | |
| 12 | Non Recognition of Trusts |
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The Company shall not be bound by or compelled to recognise in any way (even when notified) any equitable, contingent, future or partial interest in any Share, or (except only as is otherwise provided by the Articles or the Statute) any other rights in respect of any Share other than an absolute right to the entirety thereof in the holder.
| 13 | Lien on Shares |
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| 13.1 | The Company shall have a first and paramount lien on all Shares (whether fully paid-up or not) registered<br>in the name of a Member (whether solely or jointly with others) for all debts, liabilities or engagements to or with the Company (whether<br>presently payable or not) by such Member or their estate, either alone or jointly with any other person, whether a Member or not, but<br>the Directors may at any time declare any Share to be wholly or in part exempt from the provisions of this Article. The registration of<br>a transfer of any such Share shall operate as a waiver of the Company’s lien thereon. The Company’s lien on a Share shall also extend<br>to any amount payable in respect of that Share. |
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| 13.2 | The Company may sell, in such manner as the Directors think fit, any Shares on which the Company has a<br>lien, if a sum in respect of which the lien exists is presently payable, and is not paid within 14 clear days after notice has been received<br>or deemed to have been received by the holder of the Shares, or to the person entitled to it in consequence of the death or bankruptcy<br>of the holder, demanding payment and stating that if the notice is not complied with the Shares may be sold. |
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| 13.3 | To give effect to any such sale the Directors may authorise any person to execute an instrument of transfer<br>of the Shares sold to, or in accordance with the directions of, the purchaser. The purchaser or their nominee shall be registered as the<br>holder of the Shares comprised in any such transfer, and they shall not be bound to see to the application of the purchase money, nor<br>shall their title to the Shares be affected by any irregularity or invalidity in the sale or the exercise of the Company’s power of sale<br>under the Articles. |
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| 13.4 | The net proceeds of such sale after payment of costs, shall be applied in payment of such part of the<br>amount in respect of which the lien exists as is presently payable and any balance shall (subject to a like lien for sums not presently<br>payable as existed upon the Shares before the sale) be paid to the person entitled to the Shares at the date of the sale. |
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| 14 | Call on Shares |
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| 14.1 | Subject to the terms of the allotment and issue of any Shares, the Directors may make calls upon the Members<br>in respect of any monies unpaid on their Shares (whether in respect of par value or premium), and each Member shall (subject to receiving<br>at least 14 clear days’ notice specifying the time or times of payment) pay to the Company at the time or times so specified the amount<br>called on the Shares. A call may be revoked or postponed, in whole or in part, as the Directors may determine. A call may be required<br>to be paid by instalments. A person upon whom a call is made shall remain liable for calls made upon them notwithstanding the subsequent<br>transfer of the Shares in respect of which the call was made. |
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| 14.2 | A call shall be deemed to have been made at the time when the resolution of the Directors authorising<br>such call was passed. |
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| 14.3 | The joint holders of a Share shall be jointly and severally liable to pay all calls in respect thereof. |
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| 14.4 | If a call remains unpaid after it has become due and payable, the person from whom it is due shall pay<br>interest on the amount unpaid from the day it became due and payable until it is paid at such rate as the Directors may determine (and<br>in addition all expenses that have been incurred by the Company by reason of such non-payment), but the Directors may waive payment of<br>the interest or expenses wholly or in part. |
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| 14.5 | An amount payable in respect of a Share on issue or allotment or at any fixed date, whether on account<br>of the par value of the Share or premium or otherwise, shall be deemed to be a call and if it is not paid all the provisions of the Articles<br>shall apply as if that amount had become due and payable by virtue of a call. |
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| 14.6 | The Directors may issue Shares with different terms as to the amount and times of payment of calls, or<br>the interest to be paid. |
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| 14.7 | The Directors may, if they think fit, receive an amount from any Member willing to advance all or any<br>part of the monies uncalled and unpaid upon any Shares held by that Member, and may (until the amount would otherwise become payable)<br>pay interest at such rate as may be agreed upon between the Directors and the Member paying such amount in advance. |
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| 14.8 | No such amount paid in advance of calls shall entitle the Member paying such amount to any portion of<br>a Dividend or other distribution payable in respect of any period prior to the date upon which such amount would, but for such payment,<br>become payable. |
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| 15 | Forfeiture of Shares |
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| 15.1 | If a call or instalment of a call remains unpaid after it has become due and payable the Directors may<br>give to the person from whom it is due not less than 14 clear days’ notice requiring payment of the amount unpaid together with any interest<br>which may have accrued and any expenses incurred by the Company by reason of such non-payment. The notice shall specify where payment<br>is to be made and shall state that if the notice is not complied with the Shares in respect of which the call was made will be liable<br>to be forfeited. |
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| 15.2 | If the notice is not complied with, any Share in respect of which it was given may, before the payment<br>required by the notice has been made, be forfeited by a resolution of the Directors. Such forfeiture shall include all Dividends, other<br>distributions or other monies payable in respect of the forfeited Share and not paid before the forfeiture. |
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| 15.3 | A forfeited Share may be sold, re-allotted or otherwise disposed of on such terms and in such manner as<br>the Directors think fit and at any time before a sale, re-allotment or disposition the forfeiture may be cancelled on such terms as the<br>Directors think fit. Where for the purposes of its disposal a forfeited Share is to be transferred to any person the Directors may authorise<br>some person to execute an instrument of transfer of the Share in favour of that person. |
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| 15.4 | A person any of whose Shares have been forfeited shall cease to be a Member in respect of them and shall<br>surrender to the Company for cancellation the certificate for the Shares forfeited and shall remain liable to pay to the Company all monies<br>which at the date of forfeiture were payable by that person to the Company in respect of those Shares together with interest at such rate<br>as the Directors may determine, but that person’s liability shall cease if and when the Company shall have received payment in full of<br>all monies due and payable by them in respect of those Shares. |
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| 15.5 | A certificate in writing under the hand of one Director or Officer that a Share has been forfeited on<br>a specified date shall be conclusive evidence of the facts stated in it as against all persons claiming to be entitled to the Share. The<br>certificate shall (subject to the execution of an instrument of transfer) constitute a good title to the Share and the person to whom<br>the Share is sold or otherwise disposed of shall not be bound to see to the application of the purchase money, if any, nor shall their<br>title to the Share be affected by any irregularity or invalidity in the proceedings in reference to the forfeiture, sale or disposal of<br>the Share. |
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| 15.6 | The provisions of the Articles as to forfeiture shall apply in the case of non payment of any sum which,<br>by the terms of issue of a Share, becomes payable at a fixed time, whether on account of the par value of the Share or by way of premium<br>as if it had been payable by virtue of a call duly made and notified. |
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| 16 | Transmission of Shares |
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| 16.1 | If a Member dies, the survivor or survivors (where they were a joint holder), or their legal personal<br>representatives (where they were a sole holder), shall be the only persons recognised by the Company as having any title to the deceased<br>Member’s Shares. The estate of a deceased Member is not thereby released from any liability in respect of any Share, for which the Member<br>was a joint or sole holder. |
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| 16.2 | Any person becoming entitled to a Share in consequence of the death or bankruptcy or liquidation or dissolution<br>of a Member (or in any other way than by transfer) may, upon such evidence being produced as may be required by the Directors, elect,<br>by a notice in writing sent by that person to the Company, either to become the holder of such Share or to have some person nominated<br>by them registered as the holder of such Share. If they elect to have another person registered as the holder of such Share they shall<br>sign an instrument of transfer of that Share to that person. The Directors shall, in either case, have the same right to decline or suspend<br>registration as they would have had in the case of a transfer of the Share by the relevant Member before their death or bankruptcy or<br>liquidation or dissolution, as the case may be. |
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| 16.3 | A person becoming entitled to a Share by reason of the death or bankruptcy or liquidation or dissolution<br>of a Member (or in any other case than by transfer) shall be entitled to the same Dividends, other distributions and other advantages<br>to which they would be entitled if they were the holder of such Share. However, they shall not, before becoming a Member in respect of<br>a Share, be entitled in respect of it to exercise any right conferred by membership in relation to general meetings of the Company and<br>the Directors may at any time give notice requiring any such person to elect either to be registered or to have some person nominated<br>by them registered as the holder of the Share (but the Directors shall, in either case, have the same right to decline or suspend registration<br>as they would have had in the case of a transfer of the Share by the relevant Member before their death or bankruptcy or liquidation or<br>dissolution or any other case than by transfer, as the case may be). If the notice is not complied with within 90 days of being received<br>or deemed to be received (as determined pursuant to the Articles), the Directors may thereafter withhold payment of all Dividends, other<br>distributions, bonuses or other monies payable in respect of the Share until the requirements of the notice have been complied with. |
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| 17 | Class B Ordinary Share Conversion |
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| 17.1 | The rights attaching to the Class A Shares and Class B Shares shall rank pari passu in all respects,<br>and the Class A Shares and Class B Shares shall vote together as a single class on all matters (subject to the Variation of Rights of<br>Shares Article and the Appointment and Removal of Directors Article hereof) with the exception that the holder of a Class B Share shall<br>have the conversion rights referred to in this Article. |
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| 17.2 | Class B Shares shall automatically convert into Class A Shares on a one-for-one basis (the “InitialConversion Ratio”): |
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| (a) | at any time and from time to time at the option of the holders thereof; or |
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| (b) | in connection with the consummation of a Business Combination. |
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| 17.3 | Notwithstanding the Initial Conversion Ratio, in the case that additional Class A Shares or any other<br>Equity-linked Securities, are issued, or deemed issued, by the Company in excess of the amounts offered in the IPO and in connection with<br>the consummation of a Business Combination, all Class B Shares in issue shall automatically convert into Class A Shares in connection<br>with the consummation of a Business Combination at a ratio for which the Class B Shares shall convert into Class A Shares will be adjusted<br>(unless the holders of a majority of the Class B Shares in issue agree to waive such anti-dilution adjustment with respect to any such<br>issuance or deemed issuance) so that the number of Class A Shares issuable upon conversion of all Class B Shares will equal, on an as-converted<br>basis, in the aggregate, 20% of the sum of all Class A Shares and Class B Shares in issue upon completion of the IPO plus all Class A<br>Shares and Equity-linked Securities issued or deemed issued in connection with a Business Combination, excluding any Shares or Equity-linked<br>Securities issued, or to be issued, to any seller in a Business Combination and any private placement Shares issued to the Sponsor or<br>its Affiliates upon conversion of working capital loans made to the Company. |
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| 17.4 | Notwithstanding anything to the contrary contained herein, the foregoing adjustment to the Initial Conversion<br>Ratio may be waived as to any particular issuance or deemed issuance of additional Class A Shares or Equity-linked Securities by<br>the written consent or agreement of holders of a majority of the Class B Shares then in issue consenting or agreeing separately as a separate<br>class in the manner provided in the Variation of Rights of Shares Article hereof. |
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| 17.5 | The foregoing conversion ratio shall also be adjusted to account for any subdivision (by share subdivision,<br>exchange, capitalisation, rights issue, reclassification, recapitalisation or otherwise) or combination (by share consolidation, exchange,<br>reclassification, recapitalisation or otherwise) or similar reclassification or recapitalisation of the Class A Shares in issue into a<br>greater or lesser number of shares occurring after the original filing of the Articles without a proportionate and corresponding subdivision,<br>combination or similar reclassification or recapitalisation of the Class B Shares in issue. |
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| 17.6 | Each Class B Share shall convert into its pro rata number of Class A Shares pursuant to this Article.<br>The pro rata share for each holder of Class B Shares will be determined as follows: each Class B Share shall convert into such number<br>of Class A Shares as is equal to the product of 1 multiplied by a fraction, the numerator of which shall be the total number of Class<br>A Shares into which all of the Class B Shares in issue shall be converted pursuant to this Article and the denominator of which shall<br>be the total number of Class B Shares in issue at the time of conversion. |
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| 17.7 | References in this Article to “converted”, “conversion” or “exchange” shall<br>mean the compulsory redemption without notice of Class B Shares of any Member and, on behalf of such Members, automatic application of<br>such redemption proceeds in paying for such new Class A Shares into which the Class B Shares have been converted or exchanged at a price<br>per Class B Share necessary to give effect to a conversion or exchange calculated on the basis that the Class A Shares to be issued as<br>part of the conversion or exchange will be issued at par. The Class A Shares to be issued on an exchange or conversion shall be registered<br>in the name of such Member or in such name as the Member may direct. |
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| 17.8 | Notwithstanding anything to the contrary in this Article, in no event may any Class B Share convert into<br>Class A Shares at a ratio that is less than one-for-one. |
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| 18 | Amendments of Memorandum and Articles of Association and Alteration of Capital |
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| 18.1 | The Company may by Ordinary Resolution: |
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| (a) | increase its share capital by such sum as the Ordinary Resolution shall prescribe and with such rights,<br>priorities and privileges annexed thereto, as the Company in general meeting may determine; |
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| (b) | consolidate and divide all or any of its share capital into Shares of larger amount than its existing<br>Shares; |
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| (c) | convert all or any of its paid-up Shares into stock, and reconvert that stock into paid-up Shares of any<br>denomination; |
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| (d) | by subdivision of its existing Shares or any of them divide the whole or any part of its share capital<br>into Shares of smaller amount than is fixed by the Memorandum or into Shares without par value; and |
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| (e) | cancel any Shares that at the date of the passing of the Ordinary Resolution have not been taken or agreed<br>to be taken by any person and diminish the amount of its share capital by the amount of the Shares so cancelled. |
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| 18.2 | All new Shares created in accordance with the provisions of the preceding Article shall be subject to<br>the same provisions of the Articles with reference to the payment of calls, liens, transfer, transmission, forfeiture and otherwise as<br>the Shares in the original share capital. |
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| 18.3 | Subject to the provisions of the Statute, the provisions of the Articles as regards the matters to be<br>dealt with by Ordinary Resolution and Articles 29.4 and 49.2, the Company may by Special Resolution: |
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| (a) | change its name; |
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| (b) | alter or add to the Articles; |
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| (c) | alter or add to the Memorandum with respect to any objects, powers or other matters specified therein;<br>and |
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| (d) | reduce its share capital or any capital redemption reserve fund. |
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| 19 | Offices and Places of Business |
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Subject to the provisions of the Statute, the Company may by resolution of the Directors change the location of its Registered Office. The Company may, in addition to its Registered Office, maintain such other offices or places of business as the Directors determine.
| 20 | General Meetings |
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| 20.1 | All general meetings other than annual general meetings shall be called extraordinary general meetings. |
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| 20.2 | The Company may, but shall not (unless required by the Statute) be obliged to, in each year hold a general<br>meeting as its annual general meeting, and shall specify the meeting as such in the notices calling it. Any annual general meeting shall<br>be held at such time and place as the Directors shall appoint. At these meetings the report of the Directors (if any) shall be presented. |
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| 20.3 | The Directors, the chief executive officer or the chairperson of the board of Directors may call general<br>meetings, and, for the avoidance of doubt, Members shall not have the ability to call general meetings |
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| 21 | Notice of General Meetings |
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| 21.1 | At least five clear days’ notice shall be given of any general meeting. Every notice shall specify the<br>place, the day and the hour of the meeting and the general nature of the business to be conducted at the general meeting and shall be<br>given in the manner hereinafter mentioned or in such other manner if any as may be prescribed by the Company, provided that a general<br>meeting of the Company shall, whether or not the notice specified in this Article has been given and whether or not the provisions of<br>the Articles regarding general meetings have been complied with, be deemed to have been duly convened if it is so agreed: |
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| (a) | in the case of an annual general meeting, by all of the Members entitled to attend and vote at the meeting;<br>and |
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| (b) | in the case of an extraordinary general meeting, by a majority in number of the Members having a right<br>to attend and vote at the meeting, together holding not less than 95% in par value of the Shares giving that right. |
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| 21.2 | The accidental omission to give notice of a general meeting to, or the non receipt of notice of a general<br>meeting by, any person entitled to receive such notice shall not invalidate the proceedings of that general meeting. |
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| 22 | Proceedings at General Meetings |
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| 22.1 | No business shall be transacted at any general meeting unless a quorum is present. The holders of one-third<br>of the Shares being individuals present in person or by proxy or if a corporation or other non-natural person by its duly authorised representative<br>or proxy shall be a quorum. |
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| 22.2 | A person may participate at a general meeting by conference telephone or other communications equipment<br>by means of which all the persons participating in the meeting can communicate with each other. Participation by a person in a general<br>meeting in this manner is treated as presence in person at that meeting. |
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| 22.3 | A resolution (including a Special Resolution) in writing (in one or more counterparts) signed by or on<br>behalf of all of the Members for the time being entitled to receive notice of and to attend and vote at general meetings (or, being corporations<br>or other non-natural persons, signed by their duly authorised representatives) shall be as valid and effective as if the resolution had<br>been passed at a general meeting of the Company duly convened and held. |
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| 22.4 | If a quorum is not present within half an hour from the time appointed for the meeting to commence, the<br>meeting shall stand adjourned to the same day in the next week at the same time and/or place or to such other day, time and/or place as<br>the Directors may determine, and if at the adjourned meeting a quorum is not present within half an hour from the time appointed for the<br>meeting to commence, the Members present shall be a quorum. |
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| 22.5 | The Directors may, at any time prior to the time appointed for the meeting to commence, appoint any person<br>to act as chairperson of a general meeting of the Company or, if the Directors do not make any such appointment, the chairperson, if any,<br>of the board of Directors shall preside as chairperson at such general meeting. If there is no such chairperson, or if the person shall<br>not be present within 15 minutes after the time appointed for the meeting to commence, or is unwilling to act, the Directors present shall<br>elect one of their number to be chairperson of the meeting. |
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| 22.6 | If no Director is willing to act as chairperson or if no Director is present within 15 minutes after the<br>time appointed for the meeting to commence, the Members present shall choose one of their number to be chairperson of the meeting. |
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| 22.7 | The chairperson may, with the consent of a meeting at which a quorum is present (and shall if so directed<br>by the meeting) adjourn the meeting from time to time and from place to place, but no business shall be transacted at any adjourned meeting<br>other than the business left unfinished at the meeting from which the adjournment took place. |
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| 22.8 | When a general meeting is adjourned for 30 days or more, notice of the adjourned meeting shall be given<br>as in the case of an original meeting. Otherwise it shall not be necessary to give any such notice of an adjourned meeting. |
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| 22.9 | If, prior to a Business Combination, a notice is issued in respect of a general meeting and the Directors,<br>in their absolute discretion, consider that it is impractical or undesirable for any reason to hold that general meeting at the place,<br>the day and the hour specified in the notice calling such general meeting, the Directors may postpone the general meeting to another place,<br>day and/or hour provided that notice of the place, the day and the hour of the rearranged general meeting is promptly given to all Members.<br>No business shall be transacted at any postponed meeting other than the business specified in the notice of the original meeting. |
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| 22.10 | When a general meeting is postponed for 30 days or more, notice of the postponed meeting shall be given<br>as in the case of an original meeting. Otherwise it shall not be necessary to give any such notice of a postponed meeting. All proxy<br>forms submitted for the original general meeting shall remain valid for the postponed meeting. The Directors may postpone a general<br>meeting which has already been postponed. |
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| 22.11 | A resolution put to the vote of the meeting shall be decided on a poll. |
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| 22.12 | A poll shall be taken as the chairperson directs, and the result of the poll shall be deemed to be the<br>resolution of the general meeting at which the poll was demanded. |
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| 22.13 | A poll demanded on the election of a chairperson or on a question of adjournment shall be taken forthwith.<br>A poll demanded on any other question shall be taken at such date, time and place as the chairperson of the general meeting directs, and<br>any business other than that upon which a poll has been demanded or is contingent thereon may proceed pending the taking of the poll. |
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| 22.14 | In the case of an equality of votes the chairperson shall be entitled to a second or casting vote. |
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| 23 | Votes of Members |
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| 23.1 | Subject to any rights or restrictions attached to any Shares, including as set out at Articles 29.4 and<br>49.2, every Member present in any such manner shall have one vote for every Share of which they are the holder. |
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| 23.2 | In the case of joint holders the vote of the senior holder who tenders a vote, whether in person or by<br>proxy (or, in the case of a corporation or other non-natural person, by its duly authorised representative or proxy), shall be accepted<br>to the exclusion of the votes of the other joint holders, and seniority shall be determined by the order in which the names of the holders<br>stand in the Register of Members. |
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| 23.3 | A Member of unsound mind, or in respect of whom an order has been made by any court, having jurisdiction<br>in lunacy, may vote by their committee, receiver, curator bonis, or other person on such Member’s behalf appointed by that court, and<br>any such committee, receiver, curator bonis or other person may vote by proxy. |
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| 23.4 | No person shall be entitled to vote at any general meeting unless they are registered as a Member on the<br>record date for such meeting nor unless all calls or other monies then payable by them in respect of Shares have been paid. |
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| 23.5 | No objection shall be raised as to the qualification of any voter except at the general meeting or adjourned<br>general meeting at which the vote objected to is given or tendered and every vote not disallowed at the meeting shall be valid. Any objection<br>made in due time in accordance with this Article shall be referred to the chairperson whose decision shall be final and conclusive. |
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| 23.6 | Votes may be cast either personally or by proxy (or in the case of a corporation or other non-natural<br>person by its duly authorised representative or proxy). A Member may appoint more than one proxy or the same proxy under one or more instruments<br>to attend and vote at a meeting. Where a Member appoints more than one proxy the instrument of proxy shall specify the number of Shares<br>in respect of which each proxy is entitled to exercise the related votes. |
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| 23.7 | A Member holding more than one Share need not cast the votes in respect of their Shares in the same way<br>on any resolution and therefore may vote a Share or some or all such Shares either for or against a resolution and/or abstain from voting<br>a Share or some or all of the Shares and, subject to the terms of the instrument appointing the proxy, a proxy appointed under one or<br>more instruments may vote a Share or some or all of the Shares in respect of which they are appointed either for or against a resolution<br>and/or abstain from voting a Share or some or all of the Shares in respect of which they are appointed. |
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| 24 | Proxies |
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| 24.1 | The instrument appointing a proxy shall be in writing and shall be executed under the hand of the appointor<br>or of their attorney duly authorised in writing, or, if the appointor is a corporation or other non natural person, under the hand of<br>its duly authorised representative. A proxy need not be a Member. |
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| 24.2 | The Directors may, in the notice convening any meeting or adjourned meeting, or in an instrument of proxy<br>sent out by the Company, specify the manner by which the instrument appointing a proxy shall be deposited and the place and the time (being<br>not later than the time appointed for the commencement of the meeting or adjourned meeting to which the proxy relates) at which the instrument<br>appointing a proxy shall be deposited. In the absence of any such direction from the Directors in the notice convening any meeting or<br>adjourned meeting or in an instrument of proxy sent out by the Company, the instrument appointing a proxy shall be deposited physically<br>at the Registered Office not less than 48 hours before the time appointed for the meeting or adjourned meeting to commence at which the<br>person named in the instrument proposes to vote. |
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| 24.3 | The chairperson may in any event at their discretion declare that an instrument of proxy shall be deemed<br>to have been duly deposited. An instrument of proxy that is not deposited in the manner permitted, or which has not been declared to have<br>been duly deposited by the chairperson, shall be invalid. |
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| 24.4 | The instrument appointing a proxy may be in any usual or common form (or such other form as the Directors<br>may approve) and may be expressed to be for a particular meeting or any adjournment thereof or generally until revoked. An instrument<br>appointing a proxy shall be deemed to include the power to demand or join or concur in demanding a poll. |
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| 24.5 | Votes given in accordance with the terms of an instrument of proxy shall be valid notwithstanding the<br>previous death or insanity of the principal or revocation of the proxy or of the authority under which the proxy was executed, or the<br>transfer of the Share in respect of which the proxy is given unless notice in writing of such death, insanity, revocation or transfer<br>was received by the Company at the Registered Office before the commencement of the general meeting, or adjourned meeting at which it<br>is sought to use the proxy. |
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| 25 | Corporate Members |
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| 25.1 | Any corporation or other non-natural person which is a Member may in accordance with its constitutional<br>documents, or in the absence of such provision by resolution of its directors or other governing body, authorise such person as it thinks<br>fit to act as its representative at any meeting of the Company or of any class of Members, and the person so authorised shall be entitled<br>to exercise the same powers on behalf of the corporation which they represent as the corporation could exercise if it were an individual<br>Member. |
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| 25.2 | If a Clearing House (or its nominee(s)), being a corporation, is a Member, it may authorise such persons<br>as it sees fit to act as its representative at any meeting of the Company or at any meeting of any class of Members provided that the<br>authorisation shall specify the number and class of Shares in respect of which each such representative is so authorised. Each person<br>so authorised under the provisions of this Article shall be deemed to have been duly authorised without further evidence of the facts<br>and be entitled to exercise the same rights and powers on behalf of the Clearing House (or its nominee(s)) as if such person was the registered<br>holder of such Shares held by the Clearing House (or its nominee(s)). |
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| 26 | Shares that May Not be Voted |
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Shares in the Company that are beneficially owned by the Company shall not be voted, directly or indirectly, at any meeting and shall not be counted in determining the total number of outstanding Shares at any given time.
| 27 | Directors |
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| 27.1 | There shall be a board of Directors consisting of not less than one person provided however that the Company<br>may by Ordinary Resolution increase or reduce the limits in the number of Directors. |
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| 27.2 | The Directors shall be divided into three classes: Class I, Class II and Class III. The number of Directors<br>in each class shall be as nearly equal as possible. Upon the adoption of the Articles, the existing Directors shall by resolution classify<br>themselves as Class I, Class II or Class III Directors. The Class I Directors shall stand appointed for a term expiring at the Company’s<br>first annual general meeting, the Class II Directors shall stand appointed for a term expiring at the Company’s second annual general<br>meeting and the Class III Directors shall stand appointed for a term expiring at the Company’s third annual general meeting. Commencing<br>at the Company’s first annual general meeting, and at each annual general meeting thereafter, Directors appointed to succeed those<br>Directors whose terms expire shall be appointed for a term of office to expire at the third succeeding annual general meeting after their<br>appointment. Except as the Statute or other Applicable Law may otherwise require, in the interim between annual general meetings or extraordinary<br>general meetings called for the appointment of Directors and/or the removal of one or more Directors and the filling of any vacancy in<br>that connection, additional Directors and any vacancies in the board of Directors, including unfilled vacancies resulting from the removal<br>of Directors for cause, may be filled by the vote of a majority of the remaining Directors then in office, although less than a quorum<br>(as defined in the Articles), or by the sole remaining Director. All Directors shall hold office until the expiration of their respective<br>terms of office and until their successors shall have been appointed and qualified. A Director appointed to fill a vacancy resulting from<br>the death, resignation or removal of a Director shall serve for the remainder of the full term of the Director whose death, resignation<br>or removal shall have created such vacancy and until their successor shall have been appointed and qualified. |
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| 28 | Powers of Directors |
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| 28.1 | Subject to the provisions of the Statute, the Memorandum and the Articles and to any directions given<br>by Special Resolution, the business of the Company shall be managed by the Directors who may exercise all the powers of the Company. No<br>alteration of the Memorandum or Articles and no such direction shall invalidate any prior act of the Directors which would have been valid<br>if that alteration had not been made or that direction had not been given. A duly convened meeting of Directors at which a quorum is present<br>may exercise all powers exercisable by the Directors. |
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| 28.2 | All cheques, promissory notes, drafts, bills of exchange and other negotiable or transferable instruments<br>and all receipts for monies paid to the Company shall be signed, drawn, accepted, endorsed or otherwise executed as the case may be in<br>such manner as the Directors shall determine by resolution. |
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| 28.3 | The Directors on behalf of the Company may pay a gratuity or pension or allowance on retirement to any<br>Director who has held any other salaried office or place of profit with the Company or to their surviving spouse, civil partner or dependants<br>and may make contributions to any fund and pay premiums for the purchase or provision of any such gratuity, pension or allowance. |
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| 28.4 | The Directors may exercise all the powers of the Company to borrow money and to mortgage or charge its<br>undertaking, property and assets (present and future) and uncalled capital or any part thereof and to issue debentures, debenture stock,<br>mortgages, bonds and other such securities whether outright or as security for any debt, liability or obligation of the Company or of<br>any third party. |
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| 29 | Appointment and Removal of Directors |
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| 29.1 | The Company may by Ordinary Resolution appoint any person to be a Director or may by Ordinary Resolution<br>remove any Director, provided that prior to the consummation of a Business Combination and for so long as there are Class B Shares in<br>issue, only the holders of the Class B Shares shall be entitled to vote on any such Ordinary Resolution. For the avoidance of doubt, prior<br>to the consummation of a Business Combination, if there are any Class B Shares in issue, holders of Class A Shares shall have no right<br>to vote on the appointment or removal of any Director. |
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| 29.2 | The Directors may appoint any person to be a Director, either to fill a vacancy or as an additional Director<br>provided that the appointment does not cause the number of Directors to exceed any number fixed by or in accordance with the Articles<br>as the maximum number of Directors. |
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| 29.3 | After the consummation of a Business Combination, the Company may by Ordinary Resolution appoint any person<br>to be a Director or may by Ordinary Resolution remove any Director. |
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| 29.4 | Prior to the consummation of a Business Combination, Article 29.1 may only be amended by a Special Resolution<br>passed by at least 90% of such Members as, being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general<br>meeting of which notice specifying the intention to propose the resolution as a special resolution has been given, or by way of unanimous<br>written resolution. |
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| 30 | Vacation of Office of Director |
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The office of a Director shall be vacated if:
| (a) | the Director gives notice in writing to the Company that they resign the office of Director; or |
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| (b) | the Director is absent (for the avoidance of doubt, without being represented by proxy) from three consecutive<br>meetings of the board of Directors without special leave of absence from the Directors, and the Directors pass a resolution that they<br>have by reason of such absence vacated office; or |
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| (c) | the Director dies, becomes bankrupt or makes any arrangement or composition with their creditors generally;<br>or |
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| (d) | the Director is found to be or becomes of unsound mind; or |
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| (e) | all of the other Directors (being not less than two in number) determine that the Director should be removed<br>as a Director, either by a resolution passed by all of the other Directors at a meeting of the Directors duly convened and held in accordance<br>with the Articles or by a resolution in writing signed by all of the other Directors. |
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| 31 | Proceedings of Directors |
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| 31.1 | The quorum for the transaction of the business of the Directors may be fixed by the Directors, and unless<br>so fixed shall be a majority of the Directors then in office. |
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| 31.2 | Subject to the provisions of the Articles, the Directors may regulate their proceedings as they think<br>fit. Questions arising at any meeting shall be decided by a majority of votes. In the case of an equality of votes, the chairperson shall<br>have a second or casting vote. |
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| 31.3 | A person may participate in a meeting of the Directors or any committee of Directors by conference telephone<br>or other communications equipment by means of which all the persons participating in the meeting can communicate with each other at the<br>same time. Participation by a person in a meeting in this manner is treated as presence in person at that meeting. Unless otherwise determined<br>by the Directors, the meeting shall be deemed to be held at the place where the chairperson is located at the start of the meeting. |
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| 31.4 | A resolution in writing (in one or more counterparts) signed by all the Directors or all the members of<br>a committee of the Directors or, in the case of a resolution in writing relating to the removal of any Director or the vacation of office<br>by any Director, all of the Directors other than the Director who is the subject of such resolution shall be as valid and effectual as<br>if it had been passed at a meeting of the Directors, or committee of Directors as the case may be, duly convened and held. |
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| 31.5 | A Director may, or other Officer on the direction of a Director shall, call a meeting of the Directors<br>by at least two days’ notice in writing to every Director which notice shall set forth the general nature of the business to be considered<br>unless notice is waived by all the Directors either at, before or after the meeting is held. To any such notice of a meeting of the Directors<br>all the provisions of the Articles relating to the giving of notices by the Company to the Members shall apply mutatis mutandis. |
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| 31.6 | The continuing Directors (or a sole continuing Director, as the case may be) may act notwithstanding any<br>vacancy in their body, but if and so long as their number is reduced below the number fixed by or pursuant to the Articles as the necessary<br>quorum of Directors the continuing Directors or Director may act for the purpose of increasing the number of Directors to be equal to<br>such fixed number, or of summoning a general meeting of the Company, but for no other purpose. |
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| 31.7 | The Directors may elect a chairperson of their board and determine the period for which they are to hold<br>office; but if no such chairperson is elected, or if at any meeting the chairperson is not present within five minutes after the time<br>appointed for the meeting to commence, the Directors present may choose one of their number to be chairperson of the meeting. |
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| 31.8 | All acts done by any meeting of the Directors or of a committee of the Directors shall, notwithstanding<br>that it is afterwards discovered that there was some defect in the appointment of any Director, and/or that they or any of them were disqualified,<br>and/or had vacated their office and/or were not entitled to vote, be as valid as if every such person had been duly appointed and/or not<br>disqualified to be a Director and/or had not vacated their office and/or had been entitled to vote, as the case may be. |
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| 31.9 | A Director may be represented at any meetings of the board of Directors by a proxy appointed in writing<br>by that Director. The proxy shall count towards the quorum and the vote of the proxy shall for all purposes be deemed to be that of the<br>appointing Director. |
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| 32 | Presumption of Assent |
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A Director who is present at a meeting of the board of Directors at which action on any Company matter is taken shall be presumed to have assented to the action taken unless their dissent shall be entered in the minutes of the meeting or unless they shall file their written dissent from such action with the person acting as the chairperson or secretary of the meeting before the adjournment thereof or shall forward such dissent by registered post to such person immediately after the adjournment of the meeting. Such right to dissent shall not apply to a Director who voted in favour of such action.
| 33 | Directors’ Interests |
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| 33.1 | A Director may hold any other office or place of profit under the Company (other than the office of Auditor)<br>in conjunction with their office of Director for such period and on such terms as to remuneration and otherwise as the Directors may determine. |
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| 33.2 | A Director may act on their own or by, through or on behalf of their firm in a professional capacity for<br>the Company and they or their firm shall be entitled to remuneration for professional services as if they were not a Director. |
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| 33.3 | A Director may be or become a director or other officer of or otherwise interested in any company promoted<br>by the Company or in which the Company may be interested as a shareholder, a contracting party or otherwise, and no such Director shall<br>be accountable to the Company for any remuneration or other benefits received by them as a director or officer of, or from their interest<br>in, such other company. |
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| 33.4 | No person shall be disqualified from the office of Director or prevented by such office from contracting<br>with the Company, either as vendor, purchaser or otherwise, nor shall any such contract or any contract or transaction entered into by<br>or on behalf of the Company in which any Director shall be in any way interested be or be liable to be avoided, nor shall any Director<br>so contracting or being so interested be liable to account to the Company for any profit realised by or arising in connection with any<br>such contract or transaction by reason of such Director holding office or of the fiduciary relationship thereby established. A Director<br>shall be at liberty to vote in respect of any contract or transaction in which they are interested provided that the nature of the interest<br>of any Director in any such contract or transaction shall be disclosed by them at or prior to its consideration and any vote thereon. |
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| 33.5 | A general notice that a Director is a shareholder, director, officer or employee of any specified firm<br>or company and is to be regarded as interested in any transaction with such firm or company shall be sufficient disclosure for the purposes<br>of voting on a resolution in respect of a contract or transaction in which they have an interest, and after such general notice it shall<br>not be necessary to give special notice relating to any particular transaction. |
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| 34 | Minutes |
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The Directors shall cause minutes to be made in books kept for the purpose of recording all appointments of Officers made by the Directors, all proceedings at meetings of the Company or the holders of any class of Shares and of the Directors, and of committees of the Directors, including the names of the Directors present at each meeting.
| 35 | Delegation of Directors’ Powers |
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| 35.1 | The Directors may delegate any of their powers, authorities and discretions, including the power to sub-delegate,<br>to any committee consisting of one or more Directors (including, without limitation, the Audit Committee, the Compensation Committee and<br>the Nominating and Corporate Governance Committee). Any such delegation may be made subject to any conditions the Directors may impose<br>and either collaterally with or to the exclusion of their own powers and any such delegation may be revoked or altered by the Directors.<br>Subject to any such conditions, the proceedings of a committee of Directors shall be governed by the Articles regulating the proceedings<br>of Directors, so far as they are capable of applying. |
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| 35.2 | The Directors may establish any committees, local boards or agencies or appoint any person to be a manager<br>or agent for managing the affairs of the Company and may appoint any person to be a member of such committees, local boards or agencies.<br>Any such appointment may be made subject to any conditions the Directors may impose, and either collaterally with or to the exclusion<br>of their own powers and any such appointment may be revoked or altered by the Directors. Subject to any such conditions, the proceedings<br>of any such committee, local board or agency shall be governed by the Articles regulating the proceedings of Directors, so far as they<br>are capable of applying. |
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| 35.3 | The Directors may adopt formal written charters for committees and, if so adopted, shall review and assess<br>the adequacy of such formal written charters on an annual basis as may be required from time to time by the rules and regulations of the<br>Designated Stock Exchange, the Securities and Exchange Commission and/or any other competent regulatory authority or otherwise under Applicable<br>Law. Each of these committees shall be empowered to do all things necessary to exercise the rights of such committee set forth in the<br>Articles and shall have such powers as the Directors may delegate pursuant to the Articles and as required by the rules and regulations<br>of the Designated Stock Exchange, the Securities and Exchange Commission and/or any other competent regulatory authority or otherwise<br>under Applicable Law. Each of the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee, if<br>established, shall consist of such number of Directors as the Directors shall from time to time determine (or such minimum number as may<br>be required from time to time by the rules and regulations of the Designated Stock Exchange, the Securities and Exchange Commission and/or<br>any other competent regulatory authority or otherwise under Applicable Law). For so long as any class of Shares is listed on the Designated<br>Stock Exchange, the Audit Committee, the Compensation Committee and the Nominating and Corporate Governance Committee shall be made up<br>of such number of Independent Directors as is required from time to time by the rules and regulations of the Designated Stock Exchange,<br>the Securities and Exchange Commission and/or any other competent regulatory authority or otherwise under Applicable Law. |
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| 35.4 | The Directors may by power of attorney or otherwise appoint any person to be the agent of the Company<br>on such conditions as the Directors may determine, provided that the delegation is not to the exclusion of their own powers and may be<br>revoked by the Directors at any time. |
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| 35.5 | The Directors may by power of attorney or otherwise appoint any company, firm, person or body of persons,<br>whether nominated directly or indirectly by the Directors, to be the attorney or authorised signatory of the Company for such purpose<br>and with such powers, authorities and discretions (not exceeding those vested in or exercisable by the Directors under the Articles) and<br>for such period and subject to such conditions as they may think fit, and any such powers of attorney or other appointment may contain<br>such provisions for the protection and convenience of persons dealing with any such attorneys or authorised signatories as the Directors<br>may think fit and may also authorise any such attorney or authorised signatory to delegate all or any of the powers, authorities and discretions<br>vested in them. |
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| 35.6 | The Directors may appoint such Officers as they consider necessary on such terms, at such remuneration<br>and to perform such duties, and subject to such provisions as to disqualification and removal as the Directors may think fit. Unless otherwise<br>specified in the terms of their appointment an Officer may be removed by resolution of the Directors or Members. An Officer may vacate<br>their office at any time if they give notice in writing to the Company that they resign their office. |
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| 36 | No Minimum Shareholding |
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The Company in general meeting may fix a minimum shareholding required to be held by a Director, but unless and until such a shareholding qualification is fixed a Director is not required to hold Shares.
| 37 | Remuneration of Directors |
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| 37.1 | The remuneration to be paid to the Directors, if any, shall be such remuneration as the Directors shall<br>determine, provided that no cash remuneration shall be paid to any Director by the Company prior to the consummation of a Business Combination.<br>The Directors shall also, whether prior to or after the consummation of a Business Combination, be entitled to be paid all travelling,<br>hotel and other expenses properly incurred by them in connection with their attendance at meetings of Directors or committees of Directors,<br>or general meetings of the Company, or separate meetings of the holders of any class of Shares or debentures of the Company, or otherwise<br>in connection with the business of the Company or the discharge of their duties as a Director, or to receive a fixed allowance in respect<br>thereof as may be determined by the Directors, or a combination partly of one such method and partly the other. |
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| 37.2 | The Directors may by resolution approve additional remuneration to any Director for any services which<br>in the opinion of the Directors go beyond that Director’s ordinary routine work as a Director. Any fees paid to a Director who is also<br>counsel, attorney or solicitor to the Company, or otherwise serves it in a professional capacity shall be in addition to their remuneration<br>as a Director. |
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| 38 | Seal |
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| 38.1 | The Company may, if the Directors so determine, have a Seal. The Seal shall only be used by the authority<br>of the Directors or of a committee of the Directors authorised by the Directors. Every instrument to which the Seal has been affixed shall<br>be signed by at least one person who shall be either a Director or some Officer or other person appointed by the Directors for the purpose. |
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| 38.2 | The Company may have for use in any place or places outside the Cayman Islands a duplicate Seal or Seals<br>each of which shall be a facsimile of the common Seal of the Company and, if the Directors so determine, with the addition on its face<br>of the name of every place where it is to be used. |
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| 38.3 | A Director or Officer, representative or attorney of the Company may without further authority of the<br>Directors affix the Seal over their signature alone to any document of the Company required to be authenticated by them under seal or<br>to be filed with the Registrar of Companies in the Cayman Islands or elsewhere wheresoever. |
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| 39 | Dividends, Distributions and Reserve |
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| 39.1 | Subject to the Statute and this Article and except as otherwise provided by the rights attached to any<br>Shares, the Directors may resolve to pay Dividends and other distributions on Shares in issue and authorise payment of the Dividends or<br>other distributions out of the funds of the Company lawfully available therefor. A Dividend shall be deemed to be an interim Dividend<br>unless the terms of the resolution pursuant to which the Directors resolve to pay such Dividend specifically state that such Dividend<br>shall be a final Dividend. No Dividend or other distribution shall be paid except out of the realised or unrealised profits of the Company,<br>out of the share premium account or as otherwise permitted by law. |
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| 39.2 | Except as otherwise provided by the rights attached to any Shares, all Dividends and other distributions<br>shall be paid according to the par value of the Shares that a Member holds. If any Share is issued on terms providing that it shall rank<br>for Dividend as from a particular date, that Share shall rank for Dividend accordingly. |
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| 39.3 | The Directors may deduct from any Dividend or other distribution payable to any Member all sums of money<br>(if any) then payable by the Member to the Company on account of calls or otherwise. |
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| 39.4 | The Directors may resolve that any Dividend or other distribution be paid wholly or partly by the distribution<br>of specific assets and in particular (but without limitation) by the distribution of shares, debentures, or securities of any other company<br>or in any one or more of such ways and where any difficulty arises in regard to such distribution, the Directors may settle the same as<br>they think expedient and in particular may issue fractional Shares and may fix the value for distribution of such specific assets or any<br>part thereof and may determine that cash payments shall be made to any Members upon the basis of the value so fixed in order to adjust<br>the rights of all Members and may vest any such specific assets in trustees in such manner as may seem expedient to the Directors. |
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| 39.5 | Except as otherwise provided by the rights attached to any Shares, Dividends and other distributions may<br>be paid in any currency. The Directors may determine the basis of conversion for any currency conversions that may be required and how<br>any costs involved are to be met. |
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| 39.6 | The Directors may, before resolving to pay any Dividend or other distribution, set aside such sums as<br>they think proper as a reserve or reserves which shall, at the discretion of the Directors, be applicable for any purpose of the Company<br>and pending such application may, at the discretion of the Directors, be employed in the business of the Company. |
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| 39.7 | Any Dividend, other distribution, interest or other monies payable in cash in respect of Shares may be<br>paid by wire transfer to the holder or by cheque or warrant sent through the post directed to the registered address of the holder or,<br>in the case of joint holders, to the registered address of the holder who is first named on the Register of Members or to such person<br>and to such address as such holder or joint holders may in writing direct. Every such cheque or warrant shall be made payable to the order<br>of the person to whom it is sent. Any one of two or more joint holders may give effectual receipts for any Dividends, other distributions,<br>bonuses, or other monies payable in respect of the Share held by them as joint holders. |
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| 39.8 | No Dividend or other distribution shall bear interest against the Company. |
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| 39.9 | Any Dividend or other distribution which cannot be paid to a Member and/or which remains unclaimed after<br>six months from the date on which such Dividend or other distribution becomes payable may, in the discretion of the Directors, be paid<br>into a separate account in the Company’s name, provided that the Company shall not be constituted as a trustee in respect of that account<br>and the Dividend or other distribution shall remain as a debt due to the Member. Any Dividend or other distribution which remains unclaimed<br>after a period of six years from the date on which such Dividend or other distribution becomes payable shall be forfeited and shall revert<br>to the Company. |
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| 39.10 | Other than with respect to payments or distributions from the Trust Account, no Dividends or other distributions<br>shall be payable on the Class A Shares unless approved by consent in writing of the holders of not less than two-thirds of the issued<br>Class B Shares. |
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| 40 | Capitalisation |
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The Directors may at any time capitalise any sum standing to the credit of any of the Company’s reserve accounts or funds (including the share premium account and capital redemption reserve fund) or any sum standing to the credit of the profit and loss account or otherwise available for distribution; appropriate such sum to Members in the proportions in which such sum would have been divisible amongst such Members had the same been a distribution of profits by way of Dividend or other distribution; and apply such sum on their behalf in paying up in full unissued Shares for allotment and distribution credited as fully paid-up to and amongst them in the proportion aforesaid. In such event the Directors shall do all acts and things required to give effect to such capitalisation, with full power given to the Directors to make such provisions as they think fit in the case of Shares becoming distributable in fractions (including provisions whereby the benefit of fractional entitlements accrue to the Company rather than to the Members concerned). The Directors may authorise any person to enter on behalf of all of the Members interested into an agreement with the Company providing for such capitalisation and matters incidental or relating thereto and any agreement made under such authority shall be effective and binding on all such Members and the Company.
| 41 | Books of Account |
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| 41.1 | The Directors shall cause proper books of account (including, where applicable, material underlying<br>documentation including contracts and invoices) to be kept with respect to all sums of money received and expended by the Company and<br>the matters in respect of which the receipt or expenditure takes place, all sales and purchases of goods by the Company and the assets<br>and liabilities of the Company. Such books of account must be retained for a minimum period of five years from the date on which they<br>are prepared. Proper books shall not be deemed to be kept if there are not kept such books of account as are necessary to give a true<br>and fair view of the state of the Company’s affairs and to explain its transactions. |
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| 41.2 | The Directors shall determine whether and to what extent and at what times and places and under what conditions<br>or regulations the accounts and books of the Company or any of them shall be open to the inspection of Members not being Directors and<br>no Member (not being a Director) shall have any right of inspecting any account or book or document of the Company except as conferred<br>by Statute or authorised by the Directors or by the Company in general meeting. |
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| 41.3 | The Directors may cause to be prepared and to be laid before the Company in general meeting profit and<br>loss accounts, balance sheets, group accounts (if any) and such other reports and accounts as may be required by law. |
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| 42 | Audit |
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| 42.1 | The Directors may appoint an Auditor of the Company who shall hold office on such terms as the Directors<br>determine. |
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| 42.2 | Without prejudice to the freedom of the Directors to establish any other committee, if the Shares (or<br>depositary receipts therefor) are listed or quoted on the Designated Stock Exchange, and if required by the rules and regulations of the<br>Designated Stock Exchange, the Securities and Exchange Commission and/or any other competent regulatory authority or otherwise under Applicable<br>Law, the Directors shall establish and maintain an Audit Committee as a committee of the Directors and shall adopt a formal written Audit<br>Committee charter and review and assess the adequacy of the formal written charter on an annual basis. The composition and responsibilities<br>of the Audit Committee shall comply with the rules and regulations of the Designated Stock Exchange, the Securities and Exchange Commission<br>and/or any other competent regulatory authority or otherwise under Applicable Law. The Audit Committee shall meet at least once every<br>financial quarter, or more frequently as circumstances dictate. |
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| 42.3 | If the Shares (or depositary receipts therefor) are listed or quoted on the Designated Stock Exchange,<br>the Company shall conduct an appropriate review of all related party transactions on an ongoing basis and shall utilise the Audit Committee<br>for the review and approval of potential conflicts of interest. |
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| 42.4 | The remuneration of the Auditor shall be fixed by the Audit Committee (if one exists). |
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| 42.5 | If the office of Auditor becomes vacant by resignation or death of the Auditor, or by their becoming incapable<br>of acting by reason of illness or other disability at a time when their services are required, the Directors shall fill the vacancy and<br>determine the remuneration of such Auditor. |
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| 42.6 | Every Auditor of the Company shall have a right of access at all times to the books and accounts and vouchers<br>of the Company and shall be entitled to require from the Directors and Officers such information and explanation as may be necessary for<br>the performance of the duties of the Auditor. |
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| 42.7 | Auditors shall, if so required by the Directors, make a report on the accounts of the Company during their<br>tenure of office at the next annual general meeting following their appointment in the case of a company which is registered with the<br>Registrar of Companies as an ordinary company, and at the next extraordinary general meeting following their appointment in the case of<br>a company which is registered with the Registrar of Companies as an exempted company, and at any other time during their term of office,<br>upon request of the Directors or any general meeting of the Members. |
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| 42.8 | Any payment made to members of the Audit Committee (if one exists) shall require the review and approval<br>of the Directors, with any Director interested in such payment abstaining from such review and approval. |
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| 42.9 | The Audit Committee shall monitor compliance with the terms of the IPO and, if any non-compliance is identified,<br>the Audit Committee shall be charged with the responsibility to take all action necessary to rectify such non-compliance or otherwise<br>cause compliance with the terms of the IPO. |
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| 42.10 | At least one member of the Audit Committee shall be an “audit committee financial expert” as<br>determined by the rules and regulations of the Designated Stock Exchange, the Securities and Exchange Commission and/or any other competent<br>regulatory authority or otherwise under Applicable Law. The “audit committee financial expert” shall have such past employment<br>experience in finance or accounting, requisite professional certification in accounting, or any other comparable experience or background<br>which results in the individual’s financial sophistication. |
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| 43 | Notices |
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| 43.1 | Notices shall be in writing and may be given by the Company to any Member either personally or by sending<br>it by courier, post, telex, fax or email to such Member or to such Member’s address as shown in the Register of Members (or where the<br>notice is given by email by sending it to the email address provided by such Member). Notice may also be served by Electronic Communication<br>in accordance with the rules and regulations of the Designated Stock Exchange, the Securities and Exchange Commission and/or any other<br>competent regulatory authority or by placing it on the Company’s Website. |
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| 43.2 | Where a notice is sent by: |
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| (a) | courier; service of the notice shall be deemed to be effected by delivery of the notice to a courier company,<br>and shall be deemed to have been received on the third day (not including Saturdays or Sundays or public holidays) following the day on<br>which the notice was delivered to the courier; |
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| (b) | post; service of the notice shall be deemed to be effected by properly addressing, pre paying and posting<br>a letter containing the notice, and shall be deemed to have been received on the fifth day (not including Saturdays or Sundays or public<br>holidays in the Cayman Islands) following the day on which the notice was posted; |
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| (c) | telex or fax; service of the notice shall be deemed to be effected by properly addressing and sending<br>such notice and shall be deemed to have been received on the same day that it was transmitted; |
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| (d) | email or other Electronic Communication; service of the notice shall be deemed to be effected by transmitting<br>the email to the email address provided by the intended recipient and shall be deemed to have been received on the same day that it was<br>sent, and it shall not be necessary for the receipt of the email to be acknowledged by the recipient; and |
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| (e) | placing it on the Company’s Website; service of the notice shall be deemed to have been effected<br>one hour after the notice or document was placed on the Company’s Website. |
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| 43.3 | A notice may be given by the Company to the person or persons which the Company has been advised are entitled<br>to a Share or Shares in consequence of the death or bankruptcy of a Member in the same manner as other notices which are required to be<br>given under the Articles and shall be addressed to them by name, or by the title of representatives of the deceased, or trustee of the<br>bankrupt, or by any like description at the address supplied for that purpose by the persons claiming to be so entitled, or at the option<br>of the Company by giving the notice in any manner in which the same might have been given if the death or bankruptcy had not occurred. |
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| 43.4 | Notice of every general meeting shall be given in any manner authorised by the Articles to every holder<br>of Shares carrying an entitlement to receive such notice on the record date for such meeting except that in the case of joint holders<br>the notice shall be sufficient if given to the joint holder first named in the Register of Members and every person upon whom the ownership<br>of a Share devolves because they are a legal personal representative or a trustee in bankruptcy of a Member where the Member but for their<br>death or bankruptcy would be entitled to receive notice of the meeting, and no other person shall be entitled to receive notices of general<br>meetings. |
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| 44 | Winding Up |
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| 44.1 | If the Company shall be wound up, the liquidator shall apply the assets of the Company in satisfaction<br>of creditors’ claims in such manner and order as such liquidator thinks fit. Subject to the rights attaching to any Shares, in a winding<br>up: |
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| (a) | if the assets available for distribution amongst the Members shall be insufficient to repay the whole<br>of the Company’s issued share capital, such assets shall be distributed so that, as nearly as may be, the losses shall be borne by the<br>Members in proportion to the par value of the Shares held by them; or |
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| (b) | if the assets available for distribution amongst the Members shall be more than sufficient to repay the<br>whole of the Company’s issued share capital at the commencement of the winding up, the surplus shall be distributed amongst the Members<br>in proportion to the par value of the Shares held by them at the commencement of the winding up subject to a deduction from those Shares<br>in respect of which there are monies due, of all monies payable to the Company for unpaid calls or otherwise. |
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| 44.2 | If the Company shall be wound up the liquidator may, subject to the rights attaching to any Shares and<br>with the approval of a Special Resolution of the Company and any other approval required by the Statute, divide amongst the Members in<br>kind the whole or any part of the assets of the Company (whether such assets shall consist of property of the same kind or not) and may<br>for that purpose value any assets and determine how the division shall be carried out as between the Members or different classes of Members.<br>The liquidator may, with the like approval, vest the whole or any part of such assets in trustees upon such trusts for the benefit of<br>the Members as the liquidator, with the like approval, shall think fit, but so that no Member shall be compelled to accept any asset upon<br>which there is a liability. |
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| 45 | Indemnity and Insurance |
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| 45.1 | Every Director and Officer (which for the avoidance of doubt, shall not include auditors of the Company),<br>together with every former Director and former Officer (each an “Indemnified Person”) shall be indemnified out of the<br>assets of the Company against any liability, action, proceeding, claim, demand, costs, damages or expenses, including legal expenses,<br>whatsoever which they or any of them may incur as a result of any act or failure to act in carrying out their functions other than such<br>liability (if any) that they may incur by reason of their own actual fraud, wilful neglect or wilful default. No Indemnified Person shall<br>be liable to the Company for any loss or damage incurred by the Company as a result (whether direct or indirect) of the carrying out of<br>their functions unless that liability arises through the actual fraud, wilful neglect or wilful default of such Indemnified Person. No<br>person shall be found to have committed actual fraud, wilful neglect or wilful default under this Article unless or until a court of competent<br>jurisdiction shall have made a finding to that effect. |
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| 45.2 | The Company shall advance to each Indemnified Person reasonable attorneys’ fees and other costs and expenses<br>incurred in connection with the defence of any action, suit, proceeding or investigation involving such Indemnified Person for which indemnity<br>will or could be sought. In connection with any advance of any expenses hereunder, the Indemnified Person shall execute an undertaking<br>to repay the advanced amount to the Company if it shall be determined by final judgment or other final adjudication that such Indemnified<br>Person was not entitled to indemnification pursuant to this Article. If it shall be determined by a final judgment or other final adjudication<br>that such Indemnified Person was not entitled to indemnification with respect to such judgment, costs or expenses, then such party shall<br>not be indemnified with respect to such judgment, costs or expenses and any advancement shall be returned to the Company (without interest)<br>by the Indemnified Person. |
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| 45.3 | The Directors, on behalf of the Company, may purchase and maintain insurance for the benefit of any Director<br>or Officer against any liability which, by virtue of any rule of law, would otherwise attach to such person in respect of any negligence,<br>default, breach of duty or breach of trust of which such person may be guilty in relation to the Company. |
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| 46 | Financial Year |
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Unless the Directors otherwise prescribe, the financial year of the Company shall end on 31st December in each year and, following the year of incorporation, shall begin on 1st January in each year.
| 47 | Transfer by Way of Continuation |
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| 47.1 | If the Company is exempted as defined in the Statute, it shall, subject to the provisions of the Statute<br>and with the approval of a Special Resolution, have the power to register by way of continuation as a body corporate under the laws of<br>any jurisdiction outside the Cayman Islands and to be deregistered in the Cayman Islands. |
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| 47.2 | Prior to the closing of a Business Combination: |
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| (a) | only the Class B Shares shall carry the right to vote on any resolution of the shareholders to approve<br>any transfer by way of continuation pursuant to this Article (including any resolution required to amend the Memorandum and Articles or<br>to adopt new constitutional documents of the Company, in each case, as a result of the Company approving a transfer by way of continuation<br>in a jurisdiction outside the Cayman Islands); and |
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| (b) | this Article 49.2 may only be amended by a Special Resolution passed by at least 90% of such Members as,<br>being entitled to do so, vote in person or, where proxies are allowed, by proxy at a general meeting of which notice specifying the intention<br>to propose the resolution as a special resolution has been given, or by way of unanimous written resolution. |
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| 48 | Mergers and Consolidations |
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The Company shall have the power to merge or consolidate with one or more other constituent companies (as defined in the Statute) upon such terms as the Directors may determine and (to the extent required by the Statute) with the approval of a Special Resolution.
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| 49 | Business Combination |
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| 49.1 | Notwithstanding any other provision of the Articles, this Article shall apply during the period commencing<br>upon the adoption of the Articles and terminating upon the first to occur of the consummation of a Business Combination and the full distribution<br>of the Trust Account pursuant to this Article. In the event of a conflict between this Article and any other Articles, the provisions<br>of this Article shall prevail. |
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| 49.2 | Prior to the consummation of a Business Combination, the Company shall either: |
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| (a) | submit such Business Combination to its Members for approval; or |
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| (b) | provide Members with the opportunity to have their Shares repurchased by means of a tender offer for a<br>per-Share repurchase price payable in cash, equal to the aggregate amount then on deposit in the Trust Account, calculated as of two business<br>days prior to the consummation of such Business Combination, including interest earned on the Trust Account (net of taxes paid or payable,<br>if any), divided by the number of then issued Public Shares. Such obligation to repurchase Shares is subject to the completion of the<br>proposed Business Combination to which it relates. |
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| 49.3 | If the Company initiates any tender offer in accordance with Rule 13e-4 and Regulation 14E of the Exchange<br>Act in connection with a proposed Business Combination, it shall file tender offer documents with the Securities and Exchange Commission<br>prior to completing such Business Combination which contain substantially the same financial and other information about such Business<br>Combination and the redemption rights as is required under Regulation 14A of the Exchange Act. If, alternatively, the Company holds a<br>general meeting to approve a proposed Business Combination, the Company will conduct any redemptions in conjunction with a proxy solicitation<br>pursuant to Regulation 14A of the Exchange Act, and not pursuant to the tender offer rules, and file proxy materials with the Securities<br>and Exchange Commission. |
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| 49.4 | At a general meeting called for the purposes of approving a Business Combination pursuant to this Article,<br>in the event that such Business Combination is approved by Ordinary Resolution, the Company shall be authorised to consummate such Business<br>Combination. |
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| 49.5 | Any Member holding Public Shares who is not the Sponsor, a Founder, Officer or Director may, in connection<br>with any vote on a Business Combination, elect to have their Public Shares redeemed for cash, in accordance with any applicable requirements<br>provided for in the related proxy materials (the “Business Combination Redemption”), provided that no such Member acting<br>together with any Affiliate of their or any other person with whom they are acting in concert or as a partnership, limited partnership,<br>syndicate, or other group (including, for the avoidance of doubt, a “group” (as defined under Section 13 of the Exchange Act)<br>for the purposes of acquiring, holding, or disposing of Shares may exercise this redemption right with respect to more than 20% of the<br>Public Shares in the aggregate without the prior consent of the Company and provided further that any beneficial holder of Public Shares<br>on whose behalf a redemption right is being exercised must identify itself to the Company in connection with any redemption election in<br>order to validly redeem such Public Shares. If so demanded, the Company shall pay any such redeeming Member, regardless of whether they<br>are voting for or against such proposed Business Combination, a per-Share redemption price payable in cash, equal to the aggregate amount<br>then on deposit in the Trust Account calculated as of two business days prior to the consummation of the Business Combination, including<br>interest earned on the Trust Account (such interest shall be net of taxes payable) and not previously released to the Company to pay its<br>taxes, divided by the number of then issued Public Shares (such redemption price being referred to herein as the “Redemption Price”),<br>but only in the event that the applicable proposed Business Combination is approved and in connection with its consummation. |
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| 49.6 | A Member may not withdraw a Redemption Notice once submitted to the Company unless the Directors determine<br>(in their sole discretion) to permit the withdrawal of such redemption request (which they may do in whole or in part). The Directors<br>(in their sole discretion) shall determine the timing of such Business Combination Redemption of Public Shares in order to facilitate<br>the consummation and/or closing of a Business Combination. |
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| 49.7 | In the event that |
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| (a) | the Company does not consummate a Business Combination within 24 months from the consummation of the IPO,<br>or such later time as the Members may approve by Special Resolution in accordance with the Articles, (the “Deadline Date”),<br>or |
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| (b) | if the Directors determine by resolution, and provide notice in writing to the Members, that the Company<br>is unable to consummate a Business Combination by the Deadline Date, |
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the Company shall:
| (i) | cease all operations except for the purpose of winding up; |
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| (ii) | as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares,<br>at a per-Share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on<br>the funds held in the Trust Account and not previously released to the Company (less taxes payable and up to US$100,000 of interest to<br>pay dissolution expenses), divided by the number of then Public Shares in issue, which redemption will completely extinguish public Members’<br>rights as Members (including the right to receive further liquidation distributions, if any); and |
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| (iii) | as promptly as reasonably possible following such redemption, subject to the approval of the Company’s<br>remaining Members and the Directors, liquidate and dissolve, |
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subject in each case to its obligations under Cayman Islands law to provide for claims of creditors and other requirements of Applicable Law.
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| 49.8 | In the event that any amendment is made to the Articles: |
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| (a) | to modify the substance or timing of the Company’s obligation to allow redemption in connection with a<br>Business Combination or redeem 100% of the Public Shares if the Company does not consummate a Business Combination by the Deadline Date,<br>or such later time as the Members may approve by Special Resolution in accordance with the Articles; or |
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| (b) | with respect to any other provision relating to Members’ rights or pre-Business Combination activity, |
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each holder of Public Shares who is not the Sponsor, a Founder, Officer or Director shall be provided with the opportunity to redeem their Public Shares (the “Amendment Redemption”) upon the approval or effectiveness of any such amendment at a per-Share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its taxes, divided by the number of then outstanding Public Shares. The Directors (in their sole discretion) shall determine the timing of any such Amendment Redemption.
| 49.9 | A holder of Public Shares shall be entitled to receive distributions from the Trust Account only in the<br>event of a Business Combination Redemption, an Amendment Redemption, a repurchase of Shares by means of a tender offer pursuant to this<br>Article, or a distribution of the Trust Account pursuant to this Article. In no other circumstance shall a holder of Public Shares have<br>any right or interest of any kind in the Trust Account. |
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| 49.10 | Except in connection with the conversion of Class B Shares into Class A Shares pursuant to the Class B<br>Ordinary Share Conversion Article hereof where the holders of such Shares have waived any right to receive funds from the Trust Account,<br>after the issue of Public Shares, and prior to the consummation of a Business Combination, the Company shall not issue additional Shares<br>or any other securities that would entitle the holders thereof to: |
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| (a) | receive funds from the Trust Account; or |
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| (b) | vote as a class with Public Shares on a Business Combination. |
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| 49.11 | Following the IPO, no additional sums shall be deposited by the Company in the Trust Account without the<br>consent in writing of the holders of not less than two-thirds of the issued Class B Shares. |
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| 49.12 | The uninterested Independent Directors shall approve any transaction or transactions between the Company<br>and any of the following parties: |
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| (a) | any Member owning an interest in the voting power of the Company that gives such Member a significant<br>influence over the Company; and |
| --- | --- |
| (b) | any Director or Officer and any Affiliate of such Director or Officer. |
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| 49.13 | A Director may vote in respect of a Business Combination in which such Director has a conflict of interest<br>with respect to the evaluation of such Business Combination. Such Director must disclose such interest or conflict to the other Directors. |
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| 49.14 | As long as the securities of the Company are listed on The Nasdaq Stock Market LLC, the Company must complete<br>one or more Business Combinations having an aggregate fair market value of at least 80% of the assets held in the Trust Account (excluding<br>the deferred underwriting commissions and taxes payable on the income earned on the Trust Account) at the time of the Company’s signing<br>a definitive agreement in connection with a Business Combination. A Business Combination must not be solely effectuated with another blank<br>cheque company or a similar company with nominal operations. |
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| 49.15 | The Company may enter into a Business Combination with a target business that is Affiliated with the Sponsor,<br>a Founder, a Director or an Officer. In the event the Company seeks to consummate a Business Combination with a target that is Affiliated<br>with the Sponsor, a Founder, a Director or an Officer, the Company, or a committee of Independent Directors, will obtain an opinion from<br>an independent investment banking firm which is a member of FINRA or an independent valuation or appraisal firm that regularly provides<br>fairness opinions solely with respect to the satisfaction of such criteria that such a Business Combination is fair to the Company from<br>a financial point of view. |
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| 50 | Certain Tax Filings |
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Each Tax Filing Authorised Person and any such other person, acting alone, as any Director shall designate from time to time, are authorised to file or execute and provide United States Internal Revenue Service tax forms SS-4, W-8 BEN, W-8 IMY, W-9, 8832 and 2553 and such other similar tax forms as are customary to file with any United States state or federal governmental authorities or foreign governmental authorities, or provide withholding agents in connection with the formation, activities and/or elections of the Company and such other tax forms as may be approved from time to time by any Director or Officer. The Company further ratifies and approves any such filing made by any Tax Filing Authorised Person or such other person prior to the date of the Articles.
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| 51 | Business Opportunities |
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| 51.1 | To the fullest extent permitted by Applicable Law, no individual serving as a Director or an Officer (“Management”)<br>shall have any duty, except and to the extent expressly assumed by contract, to refrain from engaging directly or indirectly in the same<br>or similar business activities or lines of business as the Company. To the fullest extent permitted by Applicable Law, the Company renounces<br>any interest or expectancy of the Company in, or in being offered an opportunity to participate in, any potential transaction or matter<br>which may be a corporate opportunity for Management, on the one hand, and the Company, on the other. Except to the extent expressly assumed<br>by contract, to the fullest extent permitted by Applicable Law, Management shall have no duty to communicate or offer any such corporate<br>opportunity to the Company and shall not be liable to the Company or its Members for breach of any fiduciary duty as a Member, Director<br>and/or Officer solely by reason of the fact that such party pursues or acquires such corporate opportunity for itself directs such corporate<br>opportunity to another person, or does not communicate information regarding such corporate opportunity to the Company. |
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| 51.2 | Except as provided elsewhere in this Article, the Company hereby renounces any interest or expectancy<br>of the Company in, or in being offered an opportunity to participate in, any potential transaction or matter which may be a corporate<br>opportunity for both the Company and Management, about which a Director and/or Officer who is also a member of Management acquires knowledge. |
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| 51.3 | To the extent a court might hold that the conduct of any activity related to a corporate opportunity that<br>is renounced in this Article to be a breach of duty to the Company or its Members, the Company hereby waives, to the fullest extent permitted<br>by Applicable Law, any and all claims and causes of action that the Company may have for such activities. To the fullest extent permitted<br>by Applicable Law, the provisions of this Article apply equally to activities conducted in the future and that have been conducted in<br>the past. |
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| 52 | Exclusive Jurisdiction and Forum |
| --- | --- |
| 52.1 | Unless the Company consents in writing to the selection of an alternative forum, the courts of the Cayman<br>Islands shall have exclusive jurisdiction over any claim or dispute arising out of or in connection with the Memorandum, the Articles<br>or otherwise related in any way to each Member’s shareholding in the Company, including but not limited to: |
| --- | --- |
| (a) | any derivative action or proceeding brought on behalf of the Company; |
| --- | --- |
| (b) | any action asserting a claim of breach of any fiduciary or other duty owed by any current or former Director,<br>Officer or other employee of the Company to the Company or the Members; |
| --- | --- |
| (c) | any action asserting a claim arising pursuant to any provision of the Statute, the Memorandum or the Articles;<br>or |
| --- | --- |
| (d) | any action asserting a claim against the Company governed by the “Internal Affairs Doctrine”<br>(as such concept is recognised under the laws of the United States of America). |
| --- | --- |
| 52.2 | Each Member irrevocably submits to the exclusive jurisdiction of the courts of the Cayman Islands over<br>all such claims or disputes. |
| --- | --- |
| 52.3 | Without prejudice to any other rights or remedies that the Company may have, each Member acknowledges<br>that damages alone would not be an adequate remedy for any breach of the selection of the courts of the Cayman Islands as exclusive forum<br>and that accordingly the Company shall be entitled, without proof of special damages, to the remedies of injunction, specific performance<br>or other equitable relief for any threatened or actual breach of the selection of the courts of the Cayman Islands as exclusive forum. |
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| 52.4 | This Article 52 shall not apply to any action or suits brought to enforce any liability or duty created<br>by the United States Securities Act of 1933, as amended, the Exchange Act, or any claim for which the federal district courts of the United<br>States of America are, as a matter of the laws of the United States, the sole and exclusive forum for determination of such a claim. |
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Exhibit 10.1
January 22, 2026
Helix Acquisition Corp. III
c/o Cormorant Asset Management, LP
200 Clarendon Street, 52nd Floor
Boston, MA 02116
| Re: | Initial Public Offering |
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Ladies and Gentlemen:
This letter (this “Letter Agreement”) is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”) entered into by and among Helix Acquisition Corp. III, a Cayman Islands exempted company (the “Company”), Leerink Partners LLC and Oppenheimer & Co. Inc. (the “Underwriters”), relating to an underwritten initial public offering (the “Public Offering”) of up to 17,250,000 of the Company’s Class A ordinary shares, par value $0.0001 per share (including up to 2,250,000 shares that may be purchased to cover over-allotments, if any) (the “Class A OrdinaryShares”). The Class A Ordinary Shares will be sold in the Public Offering pursuant to a registration statement on Form S-1 and prospectus (the “Prospectus”) filed by the Company with the U.S. Securities and Exchange Commission (the “Commission”) and the Company has applied to have the Class A Ordinary Shares listed on The Nasdaq Global Market. Certain capitalized terms used herein are defined in paragraph 11 hereof.
In order to induce the Company and the Underwriters to enter into the Underwriting Agreement and to proceed with the Public Offering and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, each of Helix Holdings III LLC (the “Sponsor”) and the undersigned individuals, each of whom is a member of the Company’s board of directors and/or management team (each of the undersigned individuals, an “Insider” and collectively, the “Insiders”), hereby agrees with the Company as follows:
| 1. | It is acknowledged and agreed that the Company shall not enter into<br>a definitive agreement regarding a proposed Business Combination without the prior consent of the Sponsor. The Sponsor and each Insider<br>agrees that if the Company seeks shareholder approval of a proposed Business Combination, then in connection with such proposed Business<br>Combination, it, he or she shall (i) vote any Ordinary Shares (as defined below) owned by it, him or her in favor of any proposed Business<br>Combination (except with respect to any such Offering Shares (as defined below) which may not be voted in favor of approving the Business<br>Combination in accordance with the requirements of Rule 14e-5 under the Exchange Act (as defined below) and any Commission interpretations<br>or guidance relating thereto) and (ii) not redeem any Ordinary Shares owned by it, him or her in connection with such shareholder approval.<br>If the Company seeks to consummate a proposed Business Combination by engaging in a tender offer, the Sponsor and each Insider agrees<br>that it, he or she will not sell or tender to the Company any Ordinary Shares owned by it, him or her in connection therewith. |
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| 2. | The Sponsor and each Insider hereby agrees that in the event that the Company fails to consummate a Business<br>Combination within 24 months from the closing of the Public Offering, or such later period approved by the Company’s shareholders<br>in accordance with the Company’s amended and restated memorandum and articles of association (as it may be amended from time to<br>time, the “Charter”), the Sponsor and each Insider shall take all reasonable steps to cause the Company to,<br>as promptly as reasonably possible but not more than ten (10) business days thereafter, redeem 100% of the Class A Ordinary Shares in<br>the Public Offering (the “Offering Shares”), at a per-share price, payable in cash, equal to the aggregate amount<br>then on deposit in the Trust Account (as defined below), including interest earned on the funds held in the Trust Account (less taxes<br>paid or payable and up to $100,000 of interest to pay dissolution expenses), divided by the number of then issued and outstanding Offering<br>Shares, which redemption will constitute full and complete payment for the Offering Shares and completely extinguish all Public Shareholders’<br>(as defined below) rights as shareholders (including the right to receive further liquidating or other distributions, if any), subject<br>to the Company’s obligations under Cayman Islands law to provide for claims of creditors and in all cases subject to the other requirements<br>of applicable law. The Sponsor and each Insider agrees to not propose any amendment to the Charter (A) to modify the substance or timing<br>of the Company’s obligation to allow redemption in connection with a Business Combination or to redeem 100% of the Offering Shares<br>if the Company does not complete a Business Combination within the required time period set forth in the Charter or (B) with respect to<br>any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity, unless the Company<br>provides its Public Shareholders with the opportunity to redeem their Offering Shares upon approval of any such amendment at a per-share<br>price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account, including interest earned on the funds held<br>in the Trust Account (net of taxes paid or payable), divided by the number of then issued and outstanding Offering Shares. |
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The Sponsor and each Insider acknowledges that it, he or she has no right, title, interest or claim of any kind in or to any monies held in the Trust Account with respect to the Founder Shares held by it, him or her. The Sponsor and each Insider hereby further waives, with respect to any Ordinary Shares held by it, him or her, if any, any redemption rights it, he or she may have in connection with (a) the consummation of a Business Combination, including, without limitation, any such rights available in the context of a shareholder vote to approve such Business Combination, or (b) a shareholder vote to approve an amendment to the Charter (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with a Business Combination or to redeem 100% of the Offering Shares if the Company has not consummated a Business Combination within the time period set forth in the Charter or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity or in the context of a tender offer made by the Company to purchase Offering Shares (although the Sponsor, the Insiders and their respective affiliates shall be entitled to redemption and liquidation rights with respect to any Offering Shares it or they hold if the Company fails to consummate a Business Combination within the time period set forth in the Charter).
| 3. | During the period commencing on the effective date of the Underwriting Agreement and ending 180 days after<br>such date, the Sponsor and each Insider shall not, without the prior written consent of the Representative, (i) sell, offer to sell, contract<br>or agree to sell, hypothecate, pledge, grant any option to purchase or otherwise dispose of or agree to dispose of, directly or indirectly,<br>or establish or increase a put equivalent position or liquidate or decrease a call equivalent position within the meaning of Section 16<br>of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations of the<br>Commission promulgated thereunder, with respect to Ordinary Shares (including, but not limited to, Founder Shares) or any securities convertible<br>into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or her, (ii) enter into any swap or other arrangement that<br>transfers to another, in whole or in part, any of the economic consequences of ownership of Ordinary Shares (including, but not limited<br>to, Founder Shares) or any securities convertible into, or exercisable, or exchangeable for, Ordinary Shares owned by it, him or her,<br>whether any such transaction is to be settled by delivery of such securities, in cash or otherwise, or (iii) publicly announce any intention<br>to effect any transaction specified in clause (i) or (ii). The provisions of this paragraph will not apply to any transfer permitted under<br>paragraph 7(c) hereof or if the release or waiver is effected solely to permit a transfer not for consideration and the transferee has<br>agreed in writing to be bound by the same terms described in this Letter Agreement to the extent and for the duration that such terms<br>remain in effect at the time of the transfer. |
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| 4. | In the event of the liquidation of the Trust Account upon the failure of the Company to consummate its<br>initial Business Combination within the time period set forth in the Charter, the Sponsor (the “Indemnitor”)<br>agrees to indemnify and hold harmless the Company against any and all loss, liability, claim, damage and expense whatsoever (including,<br>but not limited to, any and all legal or other expenses reasonably incurred in investigating, preparing or defending against any litigation,<br>whether pending or threatened) to which the Company may become subject as a result of any claim by (i) any third party for services rendered<br>or products sold to the Company (except for the Company’s independent auditors) or (ii) any prospective target business with which<br>the Company has entered into a written letter of intent, confidentiality or other similar agreement, in connection with an extension of<br>the timeframe for the Company to consummate a Business Combination or Business Combination agreement (a “Target”);<br>provided, however, that such indemnification of the Company by the Indemnitor (x) shall apply only to the extent necessary<br>to ensure that such claims by a third party or a Target do not reduce the amount of funds in the Trust Account to below the lesser of<br>(i) $10.00 per Offering Share and (ii) the actual amount per Offering Share held in the Trust Account as of the date of the liquidation<br>of the Trust Account, if less than $10.00 per Offering Share is then held in the Trust Account due to reductions in the value of the trust<br>assets, less taxes payable, (y) shall not apply to any claims by a third party or a Target which executed a waiver of any and all rights<br>to the monies held in the Trust Account (whether or not such waiver is enforceable) and (z) shall not apply to any claims under the Company’s<br>indemnity of the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended. The Indemnitor<br>shall have the right to defend against any such claim with counsel of its choice reasonably satisfactory to the Company if, within 15<br>days following written receipt of notice of the claim to the Indemnitor, the Indemnitor notifies the Company in writing that it shall<br>undertake such defense. |
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| 5. | To the extent that the Underwriters do not exercise their over-allotment<br>option to purchase up to an additional 1,875,000 Class A Ordinary Shares within 45 days from the date of the Prospectus (and as further<br>described in the Prospectus), the Sponsor agrees to forfeit, at no cost, a number of Founder Shares equal to 562,500 multiplied by a fraction,<br>(i) the numerator of which is 2,250,000 minus the number of Class A Ordinary Shares purchased by the Underwriters upon the exercise of<br>their over-allotment option, and (ii) the denominator of which is 2,250,000. The forfeiture will be adjusted to the extent that the over-allotment<br>option is not exercised in full by the Underwriters so that the Founder Shares will represent an aggregate of 20.0% of the Company’s<br>issued and outstanding Class A Ordinary Shares after the Public Offering (on an as-converted basis not including the Private Placement<br>Shares (as defined below)). The Initial Shareholders further agree that to the extent that the size of the Public Offering is increased<br>or decreased, the Company will purchase or sell Class A Ordinary Shares or effect a share repurchase or share capitalization, as applicable,<br>immediately prior to the consummation of the Public Offering in such amount as to maintain the number of Founder Shares at 20.0% of its<br>issued and outstanding Class A Ordinary Shares upon the consummation of the Public Offering. In connection with such increase or decrease<br>in the size of the Public Offering, then (A) the references to 2,250,000 in the numerator and denominator of the formula in the first<br>sentence of this paragraph shall be changed to a number equal to 15% of the number of Class A Ordinary Shares issued in the Public Offering<br>and (B) the reference to 562,500 in the formula set forth in the first sentence of this paragraph shall be adjusted to such number of<br>Founder Shares that the Sponsor would have to surrender to the Company in order for the number of Founder Shares to equal an aggregate<br>of 20.0% of the Company’s issued and outstanding Class A Ordinary Shares after the Public Offering (on an as-converted basis not<br>including Private Placement Shares). |
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| 6. | The Sponsor and each Insider hereby agrees and acknowledges that: (i) the Underwriters and the Company<br>would be irreparably injured in the event of a breach by such Sponsor or an Insider of its, his or her obligations under paragraphs 1,<br>2, 3, 4, 5, 7(a), 7(b), and 9, as applicable, of this Letter Agreement, (ii) monetary damages may not be an adequate remedy for such breach<br>and (iii) the non-breaching party shall be entitled to injunctive relief, in addition to any other remedy that such party may have in<br>law or in equity, in the event of such breach. |
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| 7. | (a) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Founder Shares (or any<br>Class A Ordinary Shares issuable upon conversion thereof) until the earlier of (A) 180 days after the completion of the Company’s<br>initial Business Combination and (B) subsequent to the Business Combination, the date on which the Company completes a liquidation, merger,<br>amalgamation, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s Public Shareholders<br>having the right to exchange their Class A Ordinary Shares for cash, securities or other property (the “Founder Shares Lock-upPeriod”). |
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(b) The Sponsor and each Insider agrees that it, he or she shall not Transfer any Private Placement Shares, until 30 days after the completion of a Business Combination (the “Private Placement Shares Lock-up Period”, together with the Founder Shares Lock-up Period, the “Lock-upPeriods”).
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(c) Notwithstanding the provisions set forth in paragraphs 7(a) and 7(b), Transfers of the Founder Shares (or any Class A Ordinary Shares issuable upon conversion thereof) or Private Placement Shares that are held by the Sponsor, any Insider or any of their permitted transferees (that have complied with this paragraph 7(c)), are permitted (a) to the Company’s officers or directors, any affiliate or family member of any of the Company’s officers or directors, any members or partners of the Sponsor or their affiliates, any affiliates of the Sponsor, or any employees of such affiliates; (b) in the case of an individual, by gift to a member of such individual’s immediate family or to a trust, the beneficiary of which is a member of such individual’s immediate family, an affiliate of such individual or to a charitable organization; (c) in the case of an individual, by virtue of laws of descent and distribution upon death of such individual; (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 or otherwise in connection with the consummation of an initial Business Combination at prices no greater than the price at which the securities were originally purchased; (f) in the event of the Company’s liquidation prior to the completion of an initial Business Combination; (g) by virtue of the laws of the Cayman Islands or the Sponsor’s limited liability company agreement upon dissolution of the Sponsor; or (h) in the event of the Company’s liquidation, merger, capital stock exchange or other similar transaction which results in all of the Company’s shareholders having the right to exchange their Class A Ordinary Shares for cash, securities or other property subsequent to the Company’s completion of an initial Business Combination; provided, however, that in the case of clauses (a) through (e) or (g), these permitted transferees must enter into a written agreement with the Company agreeing to be bound by the transfer restrictions herein and the other restrictions contained in this Agreement (including provisions relating to voting, the Trust Account and liquidating distributions).
| 8. | The Sponsor and each Insider represents and warrants that it, he or she has never been suspended or expelled<br>from membership in any securities or commodities exchange or association or had a securities or commodities license or registration denied,<br>suspended or revoked. Each Insider’s biographical information furnished to the Company (including any such information included<br>in the Prospectus) is true and accurate in all respects and does not omit any material information with respect to the Insider’s<br>background. The Sponsor and each Insider’s questionnaire furnished to the Company is true and accurate in all respects. The Sponsor<br>and each Insider represents and warrants that: it, he or she is not subject to or a respondent in any legal action for, any injunction,<br>cease-and-desist order or order or stipulation to desist or refrain from any act or practice relating to the offering of securities in<br>any jurisdiction; it, he or she has never been convicted of, or pleaded guilty to, any crime (i) involving fraud, (ii) relating to any<br>financial transaction or handling of funds of another person, or (iii) pertaining to any dealings in any securities and it, he or she<br>is not currently a defendant in any such criminal proceeding. |
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| 9. | [Reserved.] |
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| 10. | The Sponsor and each Insider has full right and power, without violating any agreement to which it is<br>bound (including, without limitation, any non-competition or non-solicitation agreement with any employer or former employer), to enter<br>into this Letter Agreement and, as applicable, to serve as an officer and/or director on the board of directors of the Company and hereby<br>consents to being named in the Prospectus as an officer and/or director of the Company. |
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| 11. | As used herein, (i) “Business Combination”<br>shall mean a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination, involving the<br>Company and one or more businesses; (ii) “Ordinary Shares” shall mean the Class A Ordinary Shares and Class<br>B ordinary shares, par value $0.0001 per share (the “Class B Ordinary Shares”); (iii) “Founder Shares”<br>shall mean the 3,593,750 Class B Ordinary Shares issued and outstanding (up to 468,750 of which are subject to complete or partial forfeiture<br>if the over-allotment option is not exercised by the Underwriters); (iv) “Initial Shareholders” shall mean the<br>Sponsor and any Insider that holds Founder Shares; (v) “Private Placement Shares” shall mean the 475,000 shares<br>(or 497,500 shares if the over-allotment option is exercised in full) that the Sponsor has agreed to purchase for an aggregate purchase<br>price of $4,750,000 (or $4,975,000 if the over-allotment option is exercised in full), or $10.00 per share, in a private placement that<br>shall occur simultaneously with the consummation of the Public Offering; (vi) “Shares” shall mean the Private<br>Placement Shares and public shares; (vii) “Public Shareholders” shall mean the holders of securities issued<br>in the Public Offering; (viii) “Trust Account” shall mean the trust fund into which a portion of the net proceeds<br>of the Public Offering and the sale of the Private Placement Shares shall be deposited; and (ix) “Transfer”<br>shall mean the (a) sale of, offer to sell, contract or agreement to sell, hypothecate, pledge, grant of any option to purchase or otherwise<br>dispose of or agreement to dispose of, directly or indirectly, or establishment or increase of a put equivalent position or liquidation<br>with respect to or decrease of a call equivalent position within the meaning of Section 16 of the Exchange Act, and the rules and regulations<br>of the Commission promulgated thereunder with respect to, any security, (b) entry into any swap or other arrangement that transfers to<br>another, in whole or in part, any of the economic consequences of ownership of any security, whether any such transaction is to be settled<br>by delivery of such securities, in cash or otherwise, or (c) public announcement of any intention to effect any transaction specified<br>in clause (a) or (b). |
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| 12. | The Company will maintain an insurance policy or policies providing directors’ and officers’<br>liability insurance, and each Director shall be covered by such policy or policies, in accordance with its or their terms. |
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| 13. | This Letter Agreement constitutes the entire agreement and understanding of the parties hereto in respect<br>of the subject matter hereof and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written<br>or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby. This Letter Agreement<br>may not be changed, amended, modified or waived (other than to correct a typographical error) as to any particular provision, except by<br>a written instrument executed by all parties hereto. |
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| 14. | No party hereto may assign either this Letter Agreement or any of its rights, interests, or obligations<br>hereunder without the prior written consent of the other parties. Any purported assignment in violation of this paragraph shall be void<br>and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee. This Letter Agreement shall<br>be binding on the Sponsor and each Insider and their respective successors, heirs and assigns and permitted transferees. |
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| 15. | Nothing in this Letter Agreement shall be construed to confer upon, or give to, any person or entity other<br>than the parties hereto any right, remedy or claim under or by reason of this Letter Agreement or of any covenant, condition, stipulation,<br>promise or agreement hereof. All covenants, conditions, stipulations, promises and agreements contained in this Letter Agreement shall<br>be for the sole and exclusive benefit of the parties hereto and their successors, heirs, personal representatives and assigns and permitted<br>transferees. |
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| 16. | This Letter Agreement may be executed in any number of original or facsimile counterparts and each of<br>such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and<br>the same instrument. |
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| 17. | This Letter Agreement shall be deemed severable, and the invalidity or unenforceability of any term or<br>provision hereof shall not affect the validity or enforceability of this Letter Agreement or of any other term or provision hereof. Furthermore,<br>in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this<br>Letter Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable. |
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| 18. | This Letter Agreement shall be governed by and construed and enforced in accordance with the internal<br>laws of the State of New York. The parties hereto (i) all agree that any action, proceeding, claim or dispute arising out of, or relating<br>in any way to, this Letter Agreement shall be brought and enforced in the courts of New York City, in the State of New York, and irrevocably<br>submit to such jurisdiction and venue, which jurisdiction and venue shall be exclusive and (ii) waive any objection to such exclusive<br>jurisdiction and venue or that such courts represent an inconvenient forum. |
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| 19. | Any notice, consent or request to be given in connection with any of the terms or provisions of this Letter<br>Agreement shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt<br>requested), by hand delivery or e-mail transmission. |
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| 20. | This Letter Agreement shall terminate on the earlier of (i) the expiration of the Lock-up Periods or (ii)<br>the liquidation of the Company; provided that this Letter Agreement shall earlier terminate in the event that the Public Offering is not<br>consummated and closed by December 31, 2026; provided further that paragraph 4 of this Letter Agreement shall survive such liquidation. |
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[Signature Page Follows]
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| Sincerely, | |
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| HELIX HOLDINGS III LLC | |
| By: | /s/ Bihua Chen |
| Name: | Bihua Chen |
| Title: | Managing Member |
| By: | /s/ Bihua Chen |
| Name: | Bihua Chen |
| By: | /s/ Mark McKenna |
| Name: | Mark McKenna |
| By: | /s/ John Schmid |
| Name: | John Schmid |
| By: | /s/ Caleb Tripp |
| Name: | Caleb Tripp |
| By: | /s/ Nebojsa Obradovic |
| Name: | Nebojsa Obradovic |
| Acknowledged and Agreed: | |
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| HELIX ACQUISITION CORP. III | |
| By: | /s/ Bihua Chen |
| Name: | Bihua Chen |
| Title: | Chairperson and Chief Executive Officer |
[Signature Page to LetterAgreement]
Exhibit 10.2
INVESTMENT MANAGEMENT TRUST AGREEMENT
This Investment Management Trust Agreement (this “Agreement”) is made effective as of January 22, 2026 by and between Helix Acquisition Corp. III, a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer & Trust Company, a New York corporation (the “Trustee”).
WHEREAS, the Company’s registration statement on Form S-1, File No. 333-291993 (the “Registration Statement”) and prospectus (the “Prospectus”) for the initial public offering (the “Offering”) of the Company’s Class A Ordinary Shares, par value $0.0001 per share (the “Ordinary Shares”) has been declared effective as of the date hereof by the U.S. Securities and Exchange Commission; and
WHEREAS, the Company has entered into an Underwriting Agreement (the “Underwriting Agreement”) with Leerink Partners LLC and Oppenheimer & Co. Inc. (the “Underwriters”); and
WHEREAS, as described in the Prospectus, $150,000,000 of the gross proceeds of the Offering and sale of the Private Placement Shares (as defined in the Underwriting Agreement) (or $172,500,000 if the Underwriters’ over-allotment option is exercised in full) will be, after deducting $1,500,000 in underwriting discounts and commissions payable upon the closing of this offering (or $1,725,000 if the Underwriters’ over-allotment option is exercised in full) and an aggregate of $3,250,000 to pay fees and expenses in connection with the closing of this offering and for working capital following the closing of this offering, delivered to the Trustee to be deposited and held in a segregated trust account located at all times in the United States (the “Trust Account”) for the benefit of the Company and the holders of the Ordinary Shares issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently earned thereon) is referred to herein as the “Property,” the shareholders for whose benefit the Trustee shall hold the Property will be referred to as the “Public Shareholders,” and the Public Shareholders and the Company will be referred to together as the “Beneficiaries”); and
WHEREAS, pursuant to the Underwriting Agreement, a portion of the Property equal to $4,500,000, or $5,175,000 if the Underwriters’ over-allotment option is exercised in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriters upon and concurrently with the consummation of the Business Combination (as defined below) (the “Deferred Discount”) and at the Company’s sole and absolute discretion, up to $500,000 of this amount may be paid to third parties not participating in the Company’s Offering that assist the Company in consummating the Business Combination; and
WHEREAS, the Company and the Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.
NOW THEREFORE, IT IS AGREED:
| 1. | Agreements and Covenants of Trustee. The Trustee hereby<br>agrees and covenants to: |
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| (a) | Hold the Property in trust for the Beneficiaries in accordance with<br>the terms of this Agreement in the Trust Account established by the Trustee in the United States at JPMorgan Chase Bank, N.A. (or at<br>another U.S. chartered commercial bank with consolidated assets of $100 billion or more) and at a brokerage institution selected by the<br>Trustee that is reasonably satisfactory to the Company; |
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| (b) | Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein; |
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| (c) | In a timely manner, upon the written instruction of the Company, (i) hold the Property as uninvested cash,<br>(ii) deposit the Property into an interest bearing or non-interest bearing demand deposit account at a U.S. chartered commercial bank<br>with consolidated assets of $100 billion or more selected by the Trustee that is satisfactory to the Company, or (iii) invest and reinvest<br>the Property in United States government securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended<br>(the “Investment Company Act”), having a maturity of 185 days or less, or in money market funds meeting the conditions of<br>paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the Investment Company Act (or any successor rule), which<br>invest only in direct U.S. government treasury obligations; the Trustee may not invest in any other securities or assets; it being understood<br>that the Trust Account will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder and<br>while the account funds are invested or uninvested, the Trustee may earn bank credits or other consideration during such periods; |
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| (d) | Collect and receive, when due, all interest or other income arising from the Property, which shall become<br>part of the “Property,” as such term is used herein; |
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| (e) | Promptly notify the Company and the Underwriters of all communications received by the Trustee with respect<br>to any Property requiring action by the Company; |
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| (f) | Supply any necessary information or documents as may be requested by the Company (or its authorized agents)<br>in connection with the Company’s preparation of the tax returns relating to assets held in the Trust Account or in connection with<br>the preparation of the Company’s financial statements or completion of the audit of the Company’s financial statements by<br>the Company’s auditors; |
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| (g) | Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the<br>Property if, as and when instructed by the Company to do so; |
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| (h) | Render to the Company monthly written statements of the activities of, and amounts in, the Trust Account<br>reflecting all receipts and disbursements of the Trust Account; |
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| (i) | Commence liquidation of the Trust Account only after and promptly after<br>(x) receipt of, and only in accordance with the terms of, a letter from the Company (“Termination Letter”) in<br>a form substantially similar to that attached hereto as either Exhibit A or Exhibit B, as applicable, signed on behalf of<br>the Company by its Chief Executive Officer, Chief Financial Officer, President, Executive Vice President, Vice President, Secretary or<br>Chairman of the board of directors of the Company (the “Board”) or other authorized officer of the Company ,<br>and, in the case of Exhibit A, acknowledged and agreed to by the Underwriters, and complete the liquidation of the Trust Account<br>and distribute the Property in the Trust Account, including interest earned on the funds held in the Trust Account (less taxes paid or<br>payable and up to $100,000 of interest to pay dissolution expenses), only as directed in the Termination Letter and the other documents<br>referred to therein, or (y) upon the date which is the later of (1) 24 months after the closing of the Offering and (2) such later date<br>as may be approved by the Company’s shareholders in accordance with the Company’s amended and restated memorandum and articles<br>of association (as may be amended and/or restated from time to time, the “Articles”) or (z) upon the end of<br>a 30-day cure period after the date any additional amount of funds were required to be deposited in the Trust Account as a condition of<br>any extension of such date approved by the Company’s shareholders but were not deposited, if a Termination Letter has not been received<br>by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures set forth in<br>the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest earned on the funds held<br>in the Trust Account (less taxes paid or payable and up to $100,000 of interest to pay dissolution expenses), shall be distributed to<br>the Public Shareholders of record as of such date; |
| --- | --- |
| (j) | Upon written request from the Company, which may be given from time<br>to time in a form substantially similar to that attached hereto as Exhibit C (a “Tax Payment Withdrawal Instruction”),<br>withdraw from the Trust Account and distribute to the Company the amount of interest earned on the Property requested by the Company to<br>cover any tax obligation owed by the Company as a result of assets of the Company or interest or other income earned on the Property,<br>which amount shall be delivered directly to the Company by electronic funds transfer or other method of prompt payment, and the Company<br>shall forward such payment to the relevant taxing authority so long as there is no reduction in the principal amount per share initially<br>deposited in the Trust Account, however, that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation,<br>the Trustee shall liquidate such assets held in the Trust Account as shall be designated by the Company in writing to make such distribution<br>(it being acknowledged and agreed that any such amount in excess of interest income earned on the Property shall not be payable from the<br>Trust Account). The written request of the Company referenced above shall constitute presumptive evidence that the Company is entitled<br>to said funds, and the Trustee shall have no responsibility to look beyond said request; |
| --- | --- |
2
| (k) | Upon written request from the Company, which may be given from time to time in a form substantially similar<br>to that attached hereto as Exhibit D (a “Shareholder Redemption Withdrawal Instruction”), the Trustee<br>shall distribute to the Public Shareholders on behalf of the Company the amount requested by the Company to be used to redeem Ordinary<br>Shares from Public Shareholders properly submitted in connection with a shareholder vote to approve an amendment to the Company’s<br>Articles (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s<br>initial business combination or to redeem 100% of the Ordinary Shares sold in the Offering (the “public shares”)<br>if the Company has not consummated an initial Business Combination within such time as is described in the Articles or (B) with respect<br>to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity. The written request<br>of the Company referenced above shall constitute presumptive evidence that the Company is entitled to distribute said funds, and the Trustee<br>shall have no responsibility to look beyond said request; and |
|---|---|
| (l) | Not make any withdrawals or distributions from the Trust Account other than pursuant to Section 1(i),<br>(j) or (k) above. |
| --- | --- |
| 2. | Agreements and Covenants of the Company. The Company hereby agrees and covenants to: |
| --- | --- |
| (a) | Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chairman of the<br>Board, Chief Executive Officer, Chief Financial Officer, President, Executive Vice President, Vice President or Secretary. In addition,<br>except with respect to its duties under Sections 1(i), 1(j) and 1(k) hereof, the Trustee shall be entitled to rely<br>on, and shall be protected in relying on, any verbal or telephonic advice or instruction which it, in good faith and with reasonable care,<br>believes to be given by any one of the persons authorized above to give written instructions, provided that the Company shall promptly<br>confirm such instructions in writing; |
| --- | --- |
| (b) | Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against<br>any and all expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any action<br>taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim, or<br>in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder,<br>or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence,<br>fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action,<br>suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall notify the<br>Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have<br>the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent<br>of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to<br>settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld.<br>The Company may participate in such action with its own counsel; |
| --- | --- |
| (c) | Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual<br>administration fee, and transaction processing fee which fees shall be subject to modification by the parties from time to time. It is<br>expressly understood that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to<br>Sections 1(i) through 1(j) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration<br>fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of the Trustee except as set<br>forth in this Section 2(c), Schedule A and as may be provided in Section 2(b) hereof; |
| --- | --- |
| (d) | In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset<br>acquisition, share purchase, reorganization or similar business combination involving the Company and one or more businesses (the “BusinessCombination”), provide to the Trustee an affidavit or certificate of the inspector of elections for the shareholder meeting<br>verifying the vote of such shareholders regarding such Business Combination; |
| --- | --- |
3
| (e) | Provide the Underwriters with a copy of any Termination Letter(s), Tax Payment Withdrawal Instruction(s),<br>Shareholder Redemption Withdrawal Instruction(s), and/or any other correspondence that is sent to the Trustee with respect to any proposed<br>withdrawal from the Trust Account promptly after it issues the same; |
|---|---|
| (f) | Unless otherwise agreed between the Company and the Underwriters, ensure that any Instruction Letter (as<br>defined in Exhibit A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that<br>the Deferred Discount is paid directly to the account or accounts directed by the Underwriters prior to any transfer of the funds held<br>in the Trust Account to the Company or any other person; |
| --- | --- |
| (g) | Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain<br>from instructing the Trustee to make any distributions that are not permitted under this Agreement; and |
| --- | --- |
| (h) | Within four (4) business days after the Underwriters exercise the over-allotment option (or any unexercised<br>portion thereof) or such over-allotment option expires, provide the Trustee with a notice in writing of the total amount of the Deferred<br>Discount. |
| --- | --- |
| 3. | Limitations of Liability. The Trustee shall have no responsibility or liability to: |
| --- | --- |
| (a) | Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement<br>or document other than this Agreement and that which is expressly set forth herein; |
| --- | --- |
| (b) | Take any action with respect to the Property, other than as directed in Section 1 hereof, and the<br>Trustee shall have no liability to any third party except for liability arising out of the Trustee’s gross negligence, fraud or<br>willful misconduct; |
| --- | --- |
| (c) | Institute any proceeding for the collection of any principal and income arising from, or institute, appear<br>in or defend any proceeding of any kind with respect to, any of the Property unless and until it shall have received instructions from<br>the Company given as provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses<br>incident thereto; |
| --- | --- |
| (d) | Refund any depreciation in principal of any Property; |
| --- | --- |
| (e) | Assume that the authority of any person designated by the Company to give instructions hereunder shall<br>not be continuing unless provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such<br>authority to the Trustee; |
| --- | --- |
| (f) | The other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered<br>by it to be taken or omitted, in good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence,<br>fraud or willful misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate,<br>opinion or advice of counsel (including counsel chosen by the Trustee, which counsel may be the Company’s counsel), statement, instrument,<br>report or other paper or document (not only as to its due execution and the validity and effectiveness of its provisions, but also as<br>to the truth and acceptability of any information therein contained) which the Trustee believes, in good faith and with reasonable care,<br>to be genuine and to be signed or presented by the proper person or persons. The Trustee shall not be bound by any notice or demand, or<br>any waiver, modification, termination or rescission of this Agreement or any of the terms hereof, unless evidenced by a written instrument<br>delivered to the Trustee, signed by the proper party or parties and, if the duties or rights of the Trustee are affected, unless it shall<br>give its prior written consent thereto; |
| --- | --- |
| (g) | Verify the accuracy of the information contained in the Registration Statement; |
| --- | --- |
| (h) | Provide any assurance that any Business Combination entered into by the Company or any other action taken<br>by the Company is as contemplated by the Registration Statement; |
| --- | --- |
4
| (i) | File information returns with respect to the Trust Account with any local, state or federal taxing authority<br>or provide periodic written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income<br>earned on the Property; |
|---|---|
| (j) | Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any<br>income generated by, and activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or<br>the Company, including, but not limited to, tax obligations, except pursuant to Section 1(j) hereof; or |
| --- | --- |
| (k) | Verify calculations, qualify or otherwise approve the Company’s written requests for distributions<br>pursuant to Sections 1(i), 1(j) or 1(k) hereof. |
| --- | --- |
| 4. | Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim<br>of any kind (“Claim”) to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to,<br>or to any monies in, the Trust Account that it may have now or in the future. In the event the Trustee has any Claim against the Company<br>under this Agreement, including, without limitation, under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely<br>against the Company and its assets outside the Trust Account and not against the Property or any monies in the Trust Account. |
| --- | --- |
| 5. | Termination. This Agreement shall terminate as follows: |
| --- | --- |
| (a) | If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the<br>Company shall use its reasonable efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance<br>with this Agreement. At such time that the Company notifies the Trustee that a successor trustee has been appointed and has agreed to<br>become subject to the terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee,<br>including but not limited to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement<br>shall terminate; provided, however, that in the event that the Company does not locate a successor trustee within ninety<br>(90) days of receipt of the resignation notice from the Trustee, the Trustee may submit an application to have the Property deposited<br>with any court in the State of New York or with the United States District Court for the Southern District of New York and upon such deposit,<br>the Trustee shall be immune from any liability whatsoever; or |
| --- | --- |
| (b) | At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in<br>accordance with the provisions of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination<br>Letter, this Agreement shall terminate except with respect to Section 2(b). |
| --- | --- |
| 6. | Miscellaneous. |
| --- | --- |
| (a) | The Company and the Trustee each acknowledge that the Trustee will follow the security procedures set<br>forth below with respect to funds transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential<br>information relating to such security procedures to authorized persons. Each party must notify the other party immediately if it has reason<br>to believe unauthorized persons may have obtained access to such confidential information, or of any change in its authorized personnel.<br>In executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including, account names, account<br>numbers, and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank. Except for any<br>liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be liable for any loss,<br>liability or expense resulting from any error in the information or transmission of the funds. |
| --- | --- |
| (b) | This Agreement shall be governed by and construed and enforced in accordance with the internal laws of<br>the State of New York. This Agreement may be executed in several original or facsimile counterparts, each one of which shall constitute<br>an original, and together shall constitute but one instrument. |
| --- | --- |
5
| (c) | This Agreement contains the entire agreement and understanding of the parties hereto with respect to the<br>subject matter hereof. Except for Section 1(i), 1(j) and 1(k) hereof (which sections may not be modified, amended<br>or deleted without the affirmative vote of two-thirds of the then outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001<br>per share, of the Company, which are represented in person or by proxy and are voted at a general meeting of the Company, voting together<br>as a single class; provided that no such amendment will affect any Public Shareholder who has properly elected to redeem his or<br>her Ordinary Shares in connection with a shareholder vote to amend this Agreement (A) to modify the substance or timing of the Company’s<br>obligation to allow redemption in connection with the Company’s initial business combination or to redeem 100% of its public shares<br>if the Company does not complete its initial Business Combination within the time frame specified in the Articles or (B) with respect<br>to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity), this Agreement<br>or any provision hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by<br>each of the parties hereto. |
|---|---|
| (d) | The parties to this Agreement agree and acknowledge that the Company has no obligation to deposit any<br>funds held outside of the Trust Account into the Trust Account for the benefit of the Beneficiaries following the deposit of the Property<br>in connection with the consummation of the Offering. Holders of Public Shares have no rights to any funds held by the Company outside<br>of the Trust Account upon or following their redemption pursuant to the Articles or this Agreement. |
| --- | --- |
| (e) | The parties hereto consent to the jurisdiction and venue of any state or federal court located in the<br>City of New York, State of New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN<br>ANY WAY RELATING TO THIS AGREEMENT, EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY. |
| --- | --- |
| (f) | Any notice, consent or request to be given in connection with any of the terms or provisions of this Agreement<br>shall be in writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested),<br>by hand delivery or by electronic mail: |
| --- | --- |
if to the Trustee, to:
Continental Stock Transfer & Trust Company
1 State Street, 30th Floor
New York, NY 10004
Attn: Francis Wolf & Celeste Gonzalez
Email: fwolf@continentalstock.com
Email: cgonzalez@continentalstock.com
if to the Company, to:
Helix Acquisition Corp. III
c/o Cormorant Asset Management, LP
200 Clarendon Street, 52nd Floor
Boston, MA 02116
Email: neb@cormorant-asset.com
in each case, with copies to:
White & Case LLP
1221 Avenue of the Americas
New York, NY 10020
Attn: Joel L. Rubinstein
Email: joel.rubinstein@whitecase.com
and
6
Leerink Partners LLC
1301 Avenue of the Americas, 12^th^ Floor
New York, NY 10019
Attn: Stuart Nayman
Email: Stuart.Nayman@leerink.com
and
Kirkland & Ellis LLP
601 Lexington Avenue
New York, NY 10022
Attn: Christian Nagler
Email: christian.nagler@kirkland.com
| (g) | Each of the Company and the Trustee hereby represents that it has the full right and power and has been<br>duly authorized to enter into this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges<br>and agrees that it shall not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled<br>to any funds in the Trust Account under any circumstance. |
|---|---|
| (h) | This Agreement is the joint product of the Trustee and the Company and each provision hereof has been<br>subject to the mutual consultation, negotiation and agreement of such parties and shall not be construed for or against any party hereto. |
| --- | --- |
| (i) | This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original,<br>but all such counterparts shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by<br>facsimile or electronic transmission shall constitute valid and sufficient delivery thereof. |
| --- | --- |
| (j) | Each of the Company and the Trustee hereby acknowledges and agrees that the Underwriters are a third-party<br>beneficiaries of this Agreement. |
| --- | --- |
| (k) | Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations<br>hereunder to any other person or entity without the prior written consent of the other. |
| --- | --- |
[Signature Page Follows]
7
IN WITNESS WHEREOF, the parties have duly executed this Investment Management Trust Agreement as of the date first written above.
CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
| By: | /s/ Francis Wolf |
|---|---|
| Name: | Francis Wolf |
| Title: | Vice President |
HELIX ACQUISITION CORP. III
| By: | /s/ Bihua Chen |
|---|---|
| Name: | Bihua Chen |
| Title: | Chief Executive Officer |
[Signature Page to InvestmentManagement Trust Agreement]
SCHEDULE A
| Fee Item | Time and method of payment | Amount | |
|---|---|---|---|
| Initial set-up fee | Initial closing of Offering by wire transfer. | $ | [●] |
| Trustee administration fee | Payable annually. First year fee payable, at initial closing of Offering by wire transfer, thereafter by wire transfer or check. | $ | [●] |
| Transaction processing fee for disbursements to Company under Section 1 | Billed to Company following disbursement made to Company under Section 1 | $ | [●] |
| Paying Agent services as required pursuant to Section 1(i), 1(j) and 1(k) | Billed to Company upon delivery of service pursuant to Section 1(i), 1(j) and 1(k) | Prevailing rates |
Schedule A-1
EXHIBIT A[Letterhead of Company][Insert date]
Continental Stock Transfer & Trust Company
1 State Street, 30th Floor
New York, New York 10004
Attn: Francis Wolf and Celeste Gonzalez
| Re: | Trust Account - Termination Letter |
|---|
Dear Mr. Wolf and Ms. Gonzalez:
Pursuant to Section 1(i) of the Investment Management Trust Agreement between Helix Acquisition Corp. III (the “Company”) and Continental Stock Transfer & Trust Company (“Trustee”), dated as of January 22, 2026 (the “Trust Agreement”), this is to advise you that the Company has entered into an agreement with ___________ (the “Target Business”) to consummate a business combination with Target Business (the “Business Combination”) on or about [insert date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date (or such shorter period as you may agree) of the consummation of the Business Combination (the “Consummation Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.
In accordance with the terms of the Trust Agreement, the Company hereby authorizes you to commence to liquidate all of the assets of the Trust Account, and to transfer the proceeds to a segregated account held by you on behalf of the Beneficiaries to the effect that, on the Consummation Date, all of the funds held in the Trust Operating Account will be immediately available for transfer to the account or accounts that the Company shall direct on the Consummation Date (including as directed to it by the Underwriters (with respect to the Deferred Discount)).
On the Consummation Date (i) counsel for the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”), and (ii) the Company shall deliver to you (a) a certificate by the Chief Executive Officer, Chief Financial Officer or Chief Legal Officer, which verifies that the Business Combination has been approved by a vote of the Company’s shareholders, if a vote is held and (b) a joint written instruction signed by the Company and the Underwriters with respect to the transfer of the funds held in the Trust Operating Account, including payment of amounts owed to public shareholders who have properly exercised their redemption rights and payment of the Deferred Discount directly to the account or accounts directed by the Underwriters from the Trust Account (the “InstructionLetter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt of the Notification and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the Consummation Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.
In the event that the Business Combination is not consummated on the Consummation Date described in the notice thereof and the Company has not notified you on or before the original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately following the Consummation Date as set forth in such notice as soon thereafter as possible.
Exhibit A-1
Very truly yours,
Helix Acquisition Corp. III
| By: | |
|---|---|
| Name: | Bihua Chen |
| Title: | Chairperson and Chief Executive Officer |
Agreed and acknowledged by:
Leerink Partners LLC
| By: |
|---|
| Name: |
| Title: |
Oppenheimer & Co. Inc.
| By: |
|---|
| Name: |
| Title: |
Exhibit A-2
EXHIBIT B[Letterhead of Company][Insert date]
Continental Stock Transfer & Trust Company
1 State Street, 30th Floor
New York, New York 10004
Attn: Francis Wolf and Celeste Gonzalez
| Re: | Trust Account - Termination Letter |
|---|
Dear Mr. Wolf and Ms. Gonzalez:
Pursuant to Section 1(i) of the Investment Management Trust Agreement between Helix Acquisition Corp. III (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of January 22, 2026 (the “Trust Agreement”), this is to advise you that the Company has been unable to effect a business combination with a Target Business (the “Business Combination”) within the time frame specified in the Articles or on such earlier date as determined by the Company’s Board of Directors, [the Company’s Board of Directors has determined to terminate the period in which the Company must consummate a Business Combination on [●]], as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.
In accordance with the terms of the Trust Agreement, the Company hereby authorizes you to liquidate all of the assets in the Trust Account and to transfer the total proceeds into a segregated account held by you on behalf of the Beneficiaries to await distribution to the Public Shareholders. The Company has selected __________ as the effective date for the purpose of determining when the Public Shareholders will be entitled to receive their share of the liquidation proceeds. You agree to be the Paying Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public Shareholders in accordance with the terms of the Trust Agreement and the Articles. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section 1(i) of the Trust Agreement.
Very truly yours,
Helix Acquisition Corp. III
| By: | |
|---|---|
| Name: | |
| Title: | |
| cc: | Leerink Partners LLC; Oppenheimer & Co. Inc. |
| --- | --- |
Exhibit B-1
EXHIBIT C[Letterhead of Company][Insert date]
Continental Stock Transfer & Trust Company
1 State Street, 30th Floor
New York, New York 10004
Attn: Francis Wolf and Celeste Gonzalez
| Re: | Trust Account - Tax Payment Withdrawal Instruction |
|---|
Dear Mr. Wolf and Ms. Gonzalez:
Pursuant to Section 1(j) of the Investment Management Trust Agreement between Helix Acquisition Corp. III (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of January 22, 2026 (the “Trust Agreement”), the Company hereby requests that you deliver to the Company $_______ of the interest income earned on the Property as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.
The Company needs such funds to pay for the tax obligations. In accordance with the terms of the Trust Agreement, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s operating account at:
[WIRE INSTRUCTION INFORMATION]
Very truly yours,
Helix Acquisition Corp. III
| By: | |
|---|---|
| Name: | |
| Title: | |
| cc: | Leerink Partners LLC; Oppenheimer & Co. Inc. |
| --- | --- |
Exhibit C-1
EXHIBIT D[Letterhead of Company][Insert date]
Continental Stock Transfer & Trust Company
1 State Street, 30th Floor
New York, New York 10004
Attn: Francis Wolf & Celeste Gonzalez
| Re: | Trust Account - Shareholder Redemption Withdrawal Instruction |
|---|
Dear Mr. Wolf and Ms. Gonzalez:
Pursuant to Section 1(k) of the Investment Management Trust Agreement between Helix Acquisition Corp. III (the “Company”) and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of January 22, 2026 (the “Trust Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders of the Company $____ of the principal and interest income earned on the Property as of the date hereof to a segregated account held by you on behalf of the Beneficiaries for distribution to the Public Shareholders who have requested redemption of their Ordinary Shares. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.
The Company needs such funds to pay its Public Shareholders who have properly elected to have their Ordinary Shares redeemed by the Company in connection with a shareholder vote to approve an amendment to the Articles (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial business combination or to redeem 100% of its public Ordinary Shares if the Company has not consummated an initial Business Combination within such time as is described in the Articles or (B) with respect to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity. As such, you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter.
Very truly yours,
Helix Acquisition Corp. III
| By: |
|---|
| Name: |
| Title: |
cc: Leerink Partners LLC; Oppenheimer & Co. Inc.
Exhibit D-1
Exhibit 10.3
REGISTRATION RIGHTS AGREEMENT
THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of January 22, 2026, is made and entered into by and among Helix Acquisition Corp. III, a Cayman Islands exempted company (the “Company”), Helix Holdings III LLC, a Cayman Islands limited liability company (the “Sponsor”) and each of the undersigned parties listed on the signature page hereto under “Holders” (each such party, together with the Sponsor and any person or entity who hereafter becomes a party to this Agreement pursuant to Section 5.2 of this Agreement, a “Holder” and collectively the “Holders”).
RECITALS
WHEREAS, the Company has 4,312,500 Class B ordinary shares, par value $0.0001 per share (the “Founder Shares”), issued and outstanding, up to 562,500 of which will be surrendered to the Company for no consideration depending on the extent to which the underwriters of the Company’s initial public offering exercise their over-allotment option;
WHEREAS, the Founder Shares are convertible into Class A ordinary shares of the Company, par value $0.0001 per share (the “Ordinary Shares”), on the terms and conditions provided in the Company’s amended and restated memorandum and articles of association;
WHEREAS, on the date hereof, the Company and the Sponsor entered into that certain Private Placement Class A Ordinary Shares Purchase Agreement (the “Private Placement Class A Ordinary Shares Purchase Agreement”), pursuant to which the Sponsor agreed to purchase an aggregate of 475,000 private placement shares (or up to 497,500 shares to the extent that the over-allotment option in connection with the Company’s initial public offering is exercised in full) (the “PrivatePlacement Shares”) in a private placement transaction occurring simultaneously with the closing of the Company’s initial public offering;
WHEREAS, in order to finance the Company’s transaction costs in connection with its search for and consummation of an initial Business Combination (as defined below), the Sponsor, its affiliates or any of the Company’s officers and directors may loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into Class A Ordinary Shares equivalent to Private Placement Shares (“Working Capital Shares”) at a price of $10.00 per share at the option of the lender; and
WHEREAS, the Company and the Holders desire to enter into this Agreement, pursuant to which the Company shall grant the Holders certain registration rights with respect to certain securities of the Company, as set forth in this Agreement.
NOW, THEREFORE, in consideration of the representations, covenants and agreements contained herein, and certain other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:
Article I
Definitions
| 1.1 | Definitions. The terms defined in this Article I shall, for all purposes of this<br>Agreement, have the respective meanings set forth below: |
|---|
“Adverse Disclosure” shall mean any public disclosure of material non-public information, which disclosure, in the good faith judgment of the Chief Executive Officer or principal financial officer of the Company, after consultation with counsel to the Company, (i) would be required to be made in any Registration Statement or Prospectus in order for the applicable Registration Statement or Prospectus not to contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements contained therein (in the case of any prospectus and any preliminary prospectus, in the light of the circumstances under which they were made) not misleading, (ii) would not be required to be made at such time if the Registration Statement were not being filed, and (iii) the Company has a bona fide business purpose for not making such information public.
“Agreement” shall have the meaning given in the Preamble.
“Board” shall mean the Board of Directors of the Company.
“Business Combination” shall mean any merger, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses, involving the Company.
“Commission” shall mean the United States Securities and Exchange Commission.
“Company” shall have the meaning given in the Preamble.
“Demand Registration” shall have the meaning given in subsection 2.1.1.
“Demanding Holder” shall have the meaning given in subsection 2.1.1.
“Exchange Act” shall mean the Securities Exchange Act of 1934, as it may be amended from time to time.
“Form S-1” shall have the meaning given in subsection 2.1.1.
“Form S-3” shall have the meaning given in subsection 2.3.
“Founder Shares” shall have the meaning given in the Recitals hereto and shall be deemed to include the Ordinary Shares issuable upon conversion thereof.
“Founder Shares Lock-upPeriod” shall mean, with respect to the Founder Shares and any Ordinary Shares issuable upon conversion thereof, the period ending on the earlier of (A) 180 days after the completion of the Company’s initial Business Combination and (B) subsequent to the completion of the Business Combination, the date on which the Company completes a liquidation, merger, share exchange, reorganization or other similar transaction that results in all of the Company’s shareholders having the right to exchange their Ordinary Shares for cash, securities or other property.
“Holders” shall have the meaning given in the Preamble.
“Insider Letter” shall mean that certain letter agreement, dated as of the date hereof, by and among the Company, the Sponsor and each of the Company’s officers and directors.
“Maximum Number of Securities” shall have the meaning given in subsection 2.1.4.
“Misstatement” shall mean an untrue statement of a material fact or an omission to state a material fact required to be stated in a Registration Statement or Prospectus, or necessary to make the statements in a Registration Statement or Prospectus (in the light of the circumstances under which they were made) not misleading.
“Ordinary Shares” shall have the meaning given in the Recitals hereto.
“Permitted Transferees” shall mean any person or entity to whom a Holder of Registrable Securities is permitted to transfer such Registrable Securities prior to the expiration of the Founder Shares Lock-up Period, Private Placement Lock-up Period or any other lock-up period, as the case may be, under the Insider Letter, the Private Placement Class A Ordinary Shares Purchase Agreement, this Agreement and any other applicable agreement between such Holder and the Company, and to any transferee thereafter.
“Piggyback Registration” shall have the meaning given in subsection 2.2.1.
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“Private Placement Lock-up Period” shall mean, with respect to Private Placement Shares that are held by the initial purchasers of such Private Placement Shares or their Permitted Transferees, the period ending 30 days after the completion of the Company’s initial Business Combination.
“Private Placement Shares” shall have the meaning given in the Recitals hereto.
“Private Placement Class A OrdinaryShares Purchase Agreement” shall have the meaning given in the Recitals hereto.
“Pro Rata” shall have the meaning given in subsection 2.1.4.
“Prospectus” shall mean the prospectus included in any Registration Statement, as supplemented by any and all prospectus supplements and as amended by any and all post-effective amendments and including all material incorporated by reference in such prospectus.
“Registrable Security” shall mean (a) the Founder Shares (including any Ordinary Shares or other equivalent equity security issued or issuable upon the conversion of any of the Founder Shares or exercisable for Ordinary Shares), (b) the Private Placement Shares (including any Ordinary Shares or other equivalent equity security issued or issuable upon the conversion of any of the Private Placement Shares or exercisable for Ordinary Shares), (c) any outstanding Ordinary Shares or any other equity security (including the Ordinary Shares issued or issuable upon the conversion of any other equity security) of the Company held by a Holder as of the date of this Agreement or acquired by a Holder prior to the consummation of the Business Combination, (d) any equity securities (including the Ordinary Shares issued or issuable upon the exercise of any such equity security) of the Company issuable upon conversion of any working capital loans in an amount up to $1,500,000 made to the Company by a Holder, (e) any equity securities (including the Ordinary Shares issued or issuable upon the exercise of any such equity security) of the Company held by a Holder on or after the date of the Business Combination to the extent that such securities are “restricted securities” (as defined in Rule 144) or are otherwise held by an “affiliate” (as defined in Rule 144) of the Company and (f) any other equity security of the Company issued or issuable with respect to any such Ordinary Share by way of a share capitalization or share sub-division or in connection with a combination of shares, recapitalization, merger, consolidation or reorganization; provided, however, that, as to any particular Registrable Security, such securities shall cease to be Registrable Securities when: (A) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such securities shall have been sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (B) such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent public distribution of such securities shall not require registration under the Securities Act; (C) such securities shall have ceased to be outstanding; (D) such securities may be sold without registration pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission) (but with no volume or other restrictions or limitations including as to manner or timing of sale or current public information requirements); or (E) such securities have been sold to, or through, a broker, dealer or underwriter in a public distribution or other public securities transaction.
“Registration” shall mean a registration effected by preparing and filing a registration statement or similar document in compliance with the requirements of the Securities Act, and the applicable rules and regulations promulgated thereunder, and such registration statement becoming effective.
“Registration Expenses” shall mean the out-of-pocket expenses of a Registration, including, without limitation, the following:
| (A) | all registration and filing fees (including fees with respect to filings required to be made with the<br>Financial Industry Regulatory Authority, Inc.) and any securities exchange on which the Ordinary Shares are then listed; |
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| (B) | fees and expenses of compliance with securities or blue sky laws (including reasonable fees and disbursements<br>of counsel for the Underwriters in connection with blue sky qualifications of Registrable Securities); |
|---|---|
| (C) | printing, messenger, telephone and delivery expenses; |
| --- | --- |
| (D) | reasonable fees and disbursements of counsel for the Company; |
| --- | --- |
| (E) | reasonable fees and disbursements of all independent registered public accountants of the Company incurred<br>specifically in connection with such Registration; and |
| --- | --- |
| (F) | reasonable fees and expenses of one (1) legal counsel selected by the majority-in-interest of the Demanding<br>Holders initiating a Demand Registration to be registered for offer and sale in the applicable Registration. |
| --- | --- |
“Registration Statement” shall mean any registration statement that covers the Registrable Securities pursuant to the provisions of this Agreement, including the Prospectus included in such registration statement, amendments (including post-effective amendments) and supplements to such registration statement, and all exhibits to and all material incorporated by reference in such registration statement.
“Requesting Holder” shall have the meaning given in subsection 2.1.1.
“Securities Act” shall mean the Securities Act of 1933, as amended from time to time.
“Shelf” shall have the meaning given in subsection 2.3.1.
“Sponsor” shall have the meaning given in the Recitals hereto.
“Subsequent Shelf Registration” shall have the meaning given in subsection 2.3.2.
“Takedown Requesting Holder” shall have the meaning given in subsection 2.3.3.
“Underwriter” shall mean a securities dealer who purchases any Registrable Securities as principal in an Underwritten Offering and not as part of such dealer’s market-making activities.
“Underwritten Registration” or “UnderwrittenOffering” shall mean a Registration in which securities of the Company are sold to an Underwriter in a firm commitment underwriting for distribution to the public.
“Underwritten Shelf Takedown” shall have the meaning given in subsection 2.3.3.
“Working Capital Shares” shall have the meaning given in the Recitals hereto.
4
Article II
registrations
| 2.1 | Demand Registration. |
|---|---|
| 2.1.1 | Request for Registration. Subject to the provisions of subsection<br>2.1.4 and Section 2.4 hereof, at any time and from time to time on or after the date the Company consummates the Business Combination,<br>the Holders of at least fifteen percent (15%) of the then-outstanding number of Registrable Securities (the “DemandingHolders”) may make a written demand for Registration under the Securities Act of all or part<br>of their Registrable Securities, which written demand shall describe the amount and type of securities to be included in such Registration<br>and the intended method(s) of distribution thereof (such written demand a “Demand Registration”).<br>The Company shall, within ten (10) days of the Company’s receipt of the Demand Registration, notify, in writing, all other Holders<br>of Registrable Securities of such demand, and each Holder of Registrable Securities who thereafter wishes to include all or a portion<br>of such Holder’s Registrable Securities in a Registration pursuant to a Demand Registration (each such Holder that includes all<br>or a portion of such Holder’s Registrable Securities in such Registration, a “Requesting Holder”)<br>shall so notify the Company, in writing, within five (5) days after the receipt by the Holder of the notice from the Company. Upon receipt<br>by the Company of any such written notification from a Requesting Holder(s) to the Company, such Requesting Holder(s) shall be entitled<br>to have their Registrable Securities included in a Registration pursuant to a Demand Registration and the Company shall effect, as soon<br>thereafter as practicable, but not more than forty five (45) days immediately after the Company’s receipt of the Demand Registration,<br>the Registration of all Registrable Securities requested by the Demanding Holders and Requesting Holders pursuant to such Demand Registration.<br>Under no circumstances shall the Company be obligated to effect more than an aggregate of three (3) Registrations pursuant to a Demand<br>Registration under this subsection 2.1.1 with respect to any or all Registrable Securities; provided, however, that a Registration<br>shall not be counted for such purposes unless a Form S-1 or any similar long-form registration statement that may be available at such<br>time (“Form S-1”) has become effective and all of the Registrable Securities<br>requested by the Requesting Holders to be registered on behalf of the Requesting Holders in such Form S-1 Registration have been sold,<br>in accordance with Section 3.1 of this Agreement. |
| --- | --- |
| 2.1.2 | Effective Registration. Notwithstanding the provisions of subsection<br>2.1.1 above or any other part of this Agreement, a Registration pursuant to a Demand Registration shall not count as a Registration<br>unless and until (i) the Registration Statement filed with the Commission with respect to a Registration pursuant to a Demand Registration<br>has been declared effective by the Commission and (ii) the Company has complied with all of its obligations under this Agreement with<br>respect thereto; provided, further, that if, after such Registration Statement has been declared effective, an offering<br>of Registrable Securities in a Registration pursuant to a Demand Registration is subsequently interfered with by any stop order or injunction<br>of the Commission, federal or state court or any other governmental agency the Registration Statement with respect to such Registration<br>shall be deemed not to have been declared effective, unless and until, (i) such stop order or injunction is removed, rescinded or otherwise<br>terminated, and (ii) a majority-in-interest of the Demanding Holders initiating such Demand Registration thereafter affirmatively elect<br>to continue with such Registration and accordingly notify the Company in writing, but in no event later than five (5) days, of such election;<br>and provided, further, that the Company shall not be obligated or required to file another Registration Statement until<br>the Registration Statement that has been previously filed with respect to a Registration pursuant to a Demand Registration becomes effective<br>or is subsequently terminated. |
| --- | --- |
| 2.1.3 | Underwritten Offering. Subject to the provisions of subsection<br>2.1.4 and Section 2.4 hereof, if a majority-in-interest of the Demanding Holders so advise the Company as part of their Demand<br>Registration that the offering of the Registrable Securities pursuant to such Demand Registration shall be in the form of an Underwritten<br>Offering, then the right of such Demanding Holder or Requesting Holder (if any) to include its Registrable Securities in such Registration<br>shall be conditioned upon such Holder’s participation in such Underwritten Offering and the inclusion of such Holder’s Registrable<br>Securities in such Underwritten Offering to the extent provided herein. All such Holders proposing to distribute their Registrable Securities<br>through an Underwritten Offering under this subsection 2.1.3 shall enter into an underwriting agreement in customary form with<br>the Underwriter(s) selected for such Underwritten Offering by the majority-in-interest of the Demanding Holders initiating the Demand<br>Registration. |
| --- | --- |
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| 2.1.4 | Reduction of Underwritten Offering. If the managing Underwriter<br>or Underwriters in an Underwritten Registration pursuant to a Demand Registration, in good faith, advises the Company, the Demanding Holders<br>and the Requesting Holders (if any) in writing that the dollar amount or number of Registrable Securities that the Demanding Holders and<br>the Requesting Holders (if any) desire to sell, taken together with all other Ordinary Shares or other equity securities that the Company<br>desires to sell and the Ordinary Shares, if any, as to which a Registration has been requested pursuant to separate written contractual<br>piggy-back registration rights held by any other shareholders who desire to sell, exceeds the maximum dollar amount or maximum number<br>of equity securities that can be sold in the Underwritten Offering without adversely affecting the proposed offering price, the timing,<br>the distribution method, or the probability of success of such offering (such maximum dollar amount or maximum number of such securities,<br>as applicable, the “Maximum Number of Securities”), then the Company shall<br>include in such Underwritten Offering, as follows: (i) first, the Registrable Securities of the Demanding Holders and the Requesting Holders<br>(if any) (pro rata based on the respective number of Registrable Securities that each Demanding Holder and Requesting Holder (if any)<br>has requested be included in such Underwritten Registration and the aggregate number of Registrable Securities that the Demanding Holders<br>and Requesting Holders have requested be included in such Underwritten Registration (such proportion is referred to herein as “ProRata”)) that can be sold without exceeding the Maximum Number of Securities; (ii) second,<br>to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Registrable Securities of<br>Holders (Pro Rata, based on the respective number of Registrable Securities that each Holder has so requested) exercising their rights<br>to register their Registrable Securities pursuant to subsection 2.2.1 hereof, without exceeding the Maximum Number of Securities;<br>and (iii) third, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the<br>Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of<br>Securities; and (iv) fourth, to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i),<br>(ii) and (iii), the Ordinary Shares or other equity securities of other persons or entities that the Company is obligated to register<br>in a Registration pursuant to separate written contractual arrangements with such persons and that can be sold without exceeding the Maximum<br>Number of Securities. |
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| 2.1.5 | Demand Registration Withdrawal. A majority-in-interest of the<br>Demanding Holders initiating a Demand Registration or a majority-in-interest of the Requesting Holders (if any), pursuant to a Registration<br>under subsection 2.1.1 hereof shall have the right to withdraw from a Registration pursuant to such Demand Registration for any<br>or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of their intention to withdraw<br>from such Registration prior to the effectiveness of the Registration Statement filed with the Commission with respect to the Registration<br>of their Registrable Securities pursuant to such Demand Registration. Notwithstanding anything to the contrary in this Agreement, the<br>Company shall be responsible for the Registration Expenses incurred in connection with a Registration pursuant to a Demand Registration<br>prior to its withdrawal under this subsection 2.1.5. |
| --- | --- |
| 2.2 | Piggyback Registration. |
| --- | --- |
| 2.2.1 | Piggyback Rights. If, at any time on or after the date the Company<br>consummates a Business Combination, the Company proposes to file a Registration Statement under the Securities Act with respect to an<br>offering of equity securities, or securities or other obligations exercisable or exchangeable for, or convertible into equity securities,<br>for its own account or for the account of shareholders of the Company (or by the Company and by the shareholders of the Company including,<br>without limitation, pursuant to Section 2.1 hereof), other than a Registration Statement (i) filed in connection with any employee<br>share option or other benefit plan, (ii) for an exchange offer or offering of securities solely to the Company’s existing shareholders,<br>(iii) for an offering of debt that is convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then<br>the Company shall give written notice of such proposed filing to all of the Holders of Registrable Securities as soon as practicable but<br>not less than ten (10) days before the anticipated filing date of such Registration Statement, which notice shall (A) describe the amount<br>and type of securities to be included in such offering, the intended method(s) of distribution, and the name of the proposed managing<br>Underwriter or Underwriters, if any, in such offering, and (B) offer to all of the Holders of Registrable Securities the opportunity to<br>register the sale of such number of Registrable Securities as such Holders may request in writing within five (5) days after receipt of<br>such written notice (such Registration a “Piggyback Registration”). The Company<br>shall, in good faith, cause such Registrable Securities to be included in such Piggyback Registration and shall use its best efforts to<br>cause the managing Underwriter or Underwriters of a proposed Underwritten Offering to permit the Registrable Securities requested by the<br>Holders pursuant to this subsection 2.2.1 to be included in a Piggyback Registration on the same terms and conditions as any similar<br>securities of the Company included in such Registration and to permit the sale or other disposition of such Registrable Securities in<br>accordance with the intended method(s) of distribution thereof. All such Holders proposing to distribute their Registrable Securities<br>through an Underwritten Offering under this subsection 2.2.1 shall enter into an underwriting agreement in customary form with<br>the Underwriter(s) selected for such Underwritten Offering by the Company. |
| --- | --- |
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| 2.2.2 | Reduction of Piggyback Registration. If the managing Underwriter<br>or Underwriters in an Underwritten Registration that is to be a Piggyback Registration, in good faith, advises the Company and the Holders<br>of Registrable Securities participating in the Piggyback Registration in writing that the dollar amount or number of the Ordinary Shares<br>that the Company desires to sell, taken together with (i) the Ordinary Shares, if any, as to which Registration has been demanded pursuant<br>to separate written contractual arrangements with persons or entities other than the Holders of Registrable Securities hereunder (ii)<br>the Registrable Securities as to which registration has been requested pursuant to Section 2.2 hereof, and (iii) the Ordinary Shares,<br>if any, as to which Registration has been requested pursuant to separate written contractual piggy-back registration rights of other shareholders<br>of the Company, exceeds the Maximum Number of Securities, then: |
|---|---|
| (a) | If the Registration is undertaken for the Company’s account, the Company shall include in any such<br>Registration (A) first, the Ordinary Shares or other equity securities that the Company desires to sell, which can be sold without exceeding<br>the Maximum Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing<br>clause (A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection<br>2.2.1 hereof (pro rata based on the respective number of Registrable Securities that such Holder has requested be included in such<br>Registration), which can be sold without exceeding the Maximum Number of Securities; and (C) third, to the extent that the Maximum Number<br>of Securities has not been reached under the foregoing clauses (A) and (B), the Ordinary Shares, if any, as to which Registration has<br>been requested pursuant to written contractual piggy-back registration rights of other shareholders of the Company, which can be sold<br>without exceeding the Maximum Number of Securities; |
| --- | --- |
| (b) | If the Registration is pursuant to a request by persons or entities other than the Holders of Registrable<br>Securities, then the Company shall include in any such Registration (A) first, the Ordinary Shares or other equity securities, if any,<br>of such requesting persons or entities, other than the Holders of Registrable Securities, which can be sold without exceeding the Maximum<br>Number of Securities; (B) second, to the extent that the Maximum Number of Securities has not been reached under the foregoing clause<br>(A), the Registrable Securities of Holders exercising their rights to register their Registrable Securities pursuant to subsection<br>2.2.1 hereof, pro rata based on the number of Registrable Securities that each Holder has requested be included in such Registration<br>and the aggregate number of Registrable Securities that the Holders have requested to be included in such Registration, which can be sold<br>without exceeding the Maximum Number of Securities; (C) third, to the extent that the Maximum Number of Securities has not been reached<br>under the foregoing clauses (A) and (B), the Ordinary Shares or other equity securities that the Company desires to sell, which can be<br>sold without exceeding the Maximum Number of Securities; and (D) fourth, to the extent that the Maximum Number of Securities has not been<br>reached under the foregoing clauses (A), (B) and (C), the Ordinary Shares or other equity securities for the account of other persons<br>or entities that the Company is obligated to register pursuant to separate written contractual arrangements with such persons or entities,<br>which can be sold without exceeding the Maximum Number of Securities. |
| --- | --- |
| 2.2.3 | Any Holder of Registrable Securities shall have the right to withdraw<br>from a Piggyback Registration for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters<br>(if any) of his, her or its intention to withdraw from such Piggyback Registration prior to the effectiveness of the Registration Statement<br>filed with the Commission with respect to such Piggyback Registration. The Company (whether on its own good faith determination or as<br>the result of a request for withdrawal by persons pursuant to separate written contractual obligations) may withdraw a Registration Statement<br>filed with the Commission in connection with a Piggyback Registration at any time prior to the effectiveness of such Registration Statement.<br>Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in<br>connection with the Piggyback Registration prior to its withdrawal under this subsection 2.2.3. |
| --- | --- |
| 2.2.4 | Unlimited Piggyback Registration Rights. For purposes of clarity,<br>any Registration effected pursuant to Section 2.2 hereof shall not be counted as a Registration pursuant to a Demand Registration<br>effected under Section 2.1 hereof. |
| --- | --- |
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| 2.3 | Shelf Registration. |
|---|---|
| 2.3.1 | The Holders of Registrable Securities may at any time, and from time<br>to time, request in writing that the Company, pursuant to Rule 415 under the Securities Act (or any successor rule promulgated thereafter<br>by the Commission), register the resale of any or all of their Registrable Securities on Form S-3 or any similar short form registration<br>statement that may be available at such time (“Form S-3”), or if the Company<br>is ineligible to use Form S-3, on Form S-1; a registration statement filed pursuant to this subsection 2.3.1 (a “Shelf”)<br>shall provide for the resale of the Registrable Securities included therein pursuant to any method or combination of methods legally available<br>to, and requested by, any Holder. Within five (5) days of the Company’s receipt of a written request from a Holder or Holders of<br>Registrable Securities for a Registration on a Shelf, the Company shall promptly give written notice of the proposed Registration to all<br>other Holders of Registrable Securities, and each Holder of Registrable Securities who thereafter wishes to include all or a portion of<br>such Holder’s Registrable Securities in such Registration on a Shelf shall so notify the Company, in writing, within ten (10) days<br>after the receipt by the Holder of the notice from the Company. As soon as practicable thereafter, but not more than twelve (12) days<br>after the Company’s initial receipt of such written request for a Registration on Form S-3, the Company shall register all or such<br>portion of such Holder’s Registrable Securities as are specified in such written request, together with all or such portion of Registrable<br>Securities of any other Holder or Holders joining in such request as are specified in the written notification given by such Holder or<br>Holders; provided, however, that the Company shall not be obligated to effect any such Registration pursuant to this<br>subsection 2.3.1 if the Holders of Registrable Securities, together with the Holders of any other equity securities of the Company<br>entitled to inclusion in such Registration, propose to sell the Registrable Securities and such other equity securities (if any) at any<br>aggregate price to the public of less than $10,000,000. The Company shall maintain each Shelf in accordance with the terms hereof, and<br>shall prepare and file with the SEC such amendments, including post-effective amendments, and supplements as may be necessary to keep<br>such Shelf continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as there<br>are no longer any Registrable Securities included on such Shelf. In the event the Company files a Shelf on Form S-1, the Company shall<br>use its commercially reasonable efforts to convert the Form S-1 to a Form S-3 as soon as practicable after the Company is eligible to<br>use Form S-3. |
| --- | --- |
| 2.3.2 | If any Shelf ceases to be effective under the<br>Securities Act for any reason at any time while Registrable Securities included thereon are still outstanding, the Company shall use its<br>commercially reasonable efforts to as promptly as is reasonably practicable cause such Shelf to again become effective under the Securities<br>Act (including obtaining the prompt withdrawal of any order suspending the effectiveness of such Shelf), and shall use its commercially<br>reasonable efforts to as promptly as is reasonably practicable amend such Shelf in a manner reasonably expected to result in the withdrawal<br>of any order suspending the effectiveness of such Shelf or file an additional registration statement (a “SubsequentShelf Registration”) registering the resale of all Registrable Securities including on such<br>Shelf, and pursuant to any method or combination of methods legally available to, and requested by, any Holder. If a Subsequent Shelf<br>Registration is filed, the Company shall use its commercially reasonable efforts to (i) cause such Subsequent Shelf Registration to become<br>effective under the Securities Act as promptly as is reasonably practicable after the filing thereof and (ii) keep such Subsequent Shelf<br>Registration continuously effective, available for use and in compliance with the provisions of the Securities Act until such time as<br>there are no longer any Registrable Securities included thereon. Any such Subsequent Shelf Registration shall be on Form S-3 to the extent<br>that the Company is eligible to use such form. Otherwise, such Subsequent Shelf Registration shall be on another appropriate form. In<br>the event that any Holder holds Registrable Securities that are not registered for resale on a delayed or continuous basis, the Company,<br>upon request of a Holder shall promptly use its commercially reasonable efforts to cause the resale of such Registrable Securities to<br>be covered by either, at the Company’s option, a Shelf (including by means of a post-effective amendment) or a Subsequent Shelf<br>Registration and cause the same to become effective as soon as practicable after such filing and such Shelf or Subsequent Shelf Registration<br>shall be subject to the terms hereof; provided, however, the Company shall only be required to cause such Registrable Securities to be<br>so covered once annually after inquiry of the Holders. |
| --- | --- |
8
| 2.3.3 | At any time and from time to time after a Shelf has been declared effective<br>by the Commission, the Sponsor and Holders may request to sell all or any portion of its Registrable Securities in an underwritten offering<br>that is registered pursuant to the Shelf (each, an “Underwritten Shelf Takedown”);<br>provided that the Company shall only be obligated to effect an Underwritten Shelf Takedown if such offering shall include securities with<br>a total offering price (including piggyback securities and before deduction of underwriting discounts) reasonably expected to exceed,<br>in the aggregate, $10,000,000. All requests for Underwritten Shelf Takedowns shall be made by giving written notice to the Company at<br>least 48 hours prior to the public announcement of such Underwritten Shelf Takedown, which shall specify the approximate number of Registrable<br>Securities proposed to be sold in the Underwritten Shelf Takedown and the expected price range (net of underwriting discounts and commissions)<br>of such Underwritten Shelf Takedown. The Company shall include in any Underwritten Shelf Takedown the securities requested to be included<br>by any holder (each a “Takedown Requesting Holder”) at least 24 hours prior<br>to the public announcement of such Underwritten Shelf Takedown pursuant to written contractual piggyback registration rights of such holder<br>(including to those set forth herein). The Sponsor and Holders shall have the right to select the underwriter(s) for such offering (which<br>shall consist of one or more reputable nationally recognized investment banks), subject to the Company’s prior approval which shall<br>not be unreasonably withheld, conditioned or delayed. For purposes of clarity, any Registration effected pursuant to this subsection<br>2.3.3 shall not be counted as a Registration pursuant to a Demand Registration effected under Section 2.1 hereof. |
|---|---|
| 2.3.4 | If the managing Underwriter or Underwriters in<br>an Underwritten Shelf Takedown, in good faith, advises the Company, the Sponsor, Holders and the Takedown Requesting Holders (if any)<br>in writing that the dollar amount or number of Registrable Securities that the Sponsor and the Takedown Requesting Holders (if any) desire<br>to sell, taken together with all other Ordinary Shares or other equity securities that the Company desires to sell, exceeds the Maximum<br>Number of Securities, then the Company shall include in such Underwritten Shelf Takedown, as follows: (i) first, the Registrable Securities<br>of the Sponsor and the Holders that can be sold without exceeding the Maximum Number of Securities, determined Pro Rata based on the respective<br>number of Registrable Securities that each such Holder has so requested to be included in such Underwritten Shelf Takedown; (ii) second,<br>to the extent that the Maximum Number of Securities has not been reached under the foregoing clause (i), the Ordinary Shares or other<br>equity securities that the Company desires to sell, which can be sold without exceeding the Maximum Number of Securities; and (iii) third,<br>to the extent that the Maximum Number of Securities has not been reached under the foregoing clauses (i) and (ii), the Ordinary Shares<br>or other equity securities of the Takedown Requesting Holders, if any, that can be sold without exceeding the Maximum Number of Securities,<br>determined Pro Rata based on the respective number of Registrable Securities that each Takedown Requesting Holder has so requested to<br>be included in such Underwritten Shelf Takedown. |
| --- | --- |
| 2.3.5 | The Sponsor and Holders shall have the right to withdraw from an Underwritten<br>Shelf Takedown for any or no reason whatsoever upon written notification to the Company and the Underwriter or Underwriters (if any) of<br>its intention to withdraw from such Underwritten Shelf Takedown prior to the public announcement of such Underwritten Shelf Takedown.<br>Notwithstanding anything to the contrary in this Agreement, the Company shall be responsible for the Registration Expenses incurred in<br>connection with an Underwritten Shelf Takedown prior to a withdrawal under this subsection 2.3.5. |
| --- | --- |
| 2.4 | Restrictions on Registration Rights. If (A) during the period<br>starting with the date sixty (60) days prior to the Company’s good faith estimate of the date of the filing of, and ending on a<br>date one hundred and twenty (120) days after the effective date of, a Company initiated Registration and provided that the Company has<br>delivered written notice to the Holders prior to receipt of a Demand Registration pursuant to subsection 2.1.1 hereof and it continues<br>to actively employ, in good faith, all reasonable efforts to cause the applicable Registration Statement to become effective; (B) the<br>Holders have requested an Underwritten Registration and the Company and the Holders are unable to obtain the commitment of underwriters<br>to firmly underwrite the offer; or (C) in the good faith judgment of the Board such Registration would be seriously detrimental to the<br>Company and the Board concludes as a result that it is essential to defer the filing of such Registration Statement at such time, then<br>in each case the Company shall furnish to such Holders a certificate signed by the Chairperson of the Board stating that in the good faith<br>judgment of the Board it would be seriously detrimental to the Company for such Registration Statement to be filed in the near future<br>and that it is therefore essential to defer the filing of such Registration Statement. In such event, the Company shall have the right<br>to defer such filing for a period of not more than thirty (30) days; provided, however, that the Company shall not defer<br>its obligation in this manner more than once in any 12-month period. |
| --- | --- |
9
| 2.5 | Legends. In connection with any sale or other disposition of<br>the Registrable Securities by a Holder pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter<br>by the Commission) and upon compliance by the Holder with the requirements of this Section 2.5, if requested by the Holder, the Company<br>shall cause the transfer agent for the Registrable Securities (the “Transfer Agent”)<br>to remove any restrictive legends related to the book entry account holding such Registrable Securities and make a new, unlegended entry<br>for such book entry shares sold or disposed of without restrictive legends within two (2) trading days of any such request therefor from<br>the Holder; provided that the Company and the Transfer Agent have timely received from the Holder customary representations and other<br>documentation reasonably acceptable to the Company and the Transfer Agent in connection therewith. Subject to receipt from the Holder<br>by the Company and the Transfer Agent of customary representations and other documentation reasonably acceptable to the Company and the<br>Transfer Agent in connection therewith, the Holder may request that the Company remove any legend from the book entry position evidencing<br>its Registrable Securities and the Company will, if required by the Transfer Agent, use its commercially reasonable efforts cause an opinion<br>of the Company’s counsel be provided, in a form reasonably acceptable to the Transfer Agent, to the effect that the removal of such<br>restrictive legends in such circumstances may be effected under the Securities Act, following the earliest of such time as such Registrable<br>Securities (i) are subject to or have been or are about to be sold pursuant to an effective registration statement or (ii) have been or<br>are about to be sold pursuant to Rule 144 promulgated under the Securities Act (or any successor rule promulgated thereafter by the Commission).<br>If restrictive legends are no longer required for such Registrable Securities pursuant to the foregoing, the Company shall, in accordance<br>with the provisions of this section and within two (2) trading days of any request therefor from the Holder accompanied by such customary<br>and reasonably acceptable representations and other documentation referred to above establishing that restrictive legends are no longer<br>required, deliver to the Transfer Agent irrevocable instructions that the Transfer Agent shall make a new, unlegended entry for such book<br>entry shares. The Company shall be responsible for the fees of its Transfer Agent, its legal counsel and all DTC fees associated with<br>such issuance. |
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Article III
COMPANY PROCEDURES
| 3.1 | General Procedures. If at any time on or after the date the Company<br>consummates a Business Combination the Company is required to effect the Registration of Registrable Securities, the Company shall use<br>its best efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended plan of<br>distribution thereof, and pursuant thereto the Company shall, as expeditiously as possible: |
|---|---|
| 3.1.1 | prepare and file with the Commission as soon<br>as practicable a Registration Statement with respect to such Registrable Securities and use its reasonable best efforts to cause such<br>Registration Statement to become effective and remain effective until all Registrable Securities covered by such Registration Statement<br>have been sold; |
| --- | --- |
| 3.1.2 | prepare and file with the Commission such amendments<br>and post-effective amendments to the Registration Statement, and such supplements to the Prospectus, as may be requested by the Holders<br>or any Underwriter of Registrable Securities or as may be required by the rules, regulations or instructions applicable to the registration<br>form used by the Company or by the Securities Act or rules and regulations thereunder to keep the Registration Statement effective until<br>all Registrable Securities covered by such Registration Statement are sold in accordance with the intended plan of distribution set forth<br>in such Registration Statement or supplement to the Prospectus; |
| --- | --- |
| 3.1.3 | prior to filing a Registration Statement or Prospectus,<br>or any amendment or supplement thereto, furnish without charge to the Underwriters, if any, and the Holders of Registrable Securities<br>included in such Registration, and such Holders’ and Underwriters’ legal counsel, copies of such Registration Statement as<br>proposed to be filed, each amendment and supplement to such Registration Statement (in each case including all exhibits thereto and documents<br>incorporated by reference therein), the Prospectus included in such Registration Statement (including each preliminary Prospectus), and<br>such other documents as the Underwriters and the Holders of Registrable Securities included in such Registration or the legal counsel<br>for any such Holders and Underwriters may request in order to facilitate the disposition of the Registrable Securities owned by such Holders; |
| --- | --- |
10
| 3.1.4 | prior to any public offering of Registrable Securities, use its best<br>efforts to (i) register or qualify the Registrable Securities covered by the Registration Statement under such securities or “blue<br>sky” laws of such jurisdictions in the United States as the Holders of Registrable Securities included in such Registration Statement<br>(in light of their intended plan of distribution) may request and (ii) take such action necessary to cause such Registrable Securities<br>covered by the Registration Statement to be registered with or approved by such other governmental authorities as may be necessary by<br>virtue of the business and operations of the Company and do any and all other acts and things that may be necessary or advisable to enable<br>the Holders of Registrable Securities included in such Registration Statement to consummate the disposition of such Registrable Securities<br>in such jurisdictions; provided, however, that the Company shall not be required to qualify generally to do business in<br>any jurisdiction where it would not otherwise be required to qualify or take any action to which it would be subject to general service<br>of process or taxation in any such jurisdiction where it is not then otherwise so subject; |
|---|---|
| 3.1.5 | cause all such Registrable Securities to be listed<br>on each securities exchange or automated quotation system on which similar securities issued by the Company are then listed; |
| --- | --- |
| 3.1.6 | provide a transfer agent and registrar for all<br>such Registrable Securities no later than the effective date of such Registration Statement; |
| --- | --- |
| 3.1.7 | advise each seller of such Registrable Securities,<br>promptly after it shall receive notice or obtain knowledge thereof, of the issuance of any stop order by the Commission suspending the<br>effectiveness of such Registration Statement or the initiation or threatening of any proceeding for such purpose and promptly use its<br>reasonable best efforts to prevent the issuance of any stop order or to obtain its withdrawal if such stop order should be issued; |
| --- | --- |
| 3.1.8 | at least five (5) days prior to the filing of<br>any Registration Statement or Prospectus or any amendment or supplement to such Registration Statement or Prospectus furnish a copy thereof<br>to each seller of such Registrable Securities and its counsel, including, without limitation, providing copies promptly upon receipt of<br>any comment letters received with respect to any such Registration Statement or Prospectus; |
| --- | --- |
| 3.1.9 | notify the Holders at any time when a Prospectus relating to such Registration<br>Statement is required to be delivered under the Securities Act, of the happening of any event as a result of which the Prospectus included<br>in such Registration Statement, as then in effect, includes a Misstatement, and then to correct such Misstatement as set forth in Section<br>3.4 hereof; |
| --- | --- |
| 3.1.10 | permit a representative of the Holders (such representative to be selected<br>by a majority of the participating Holders), the Underwriters, if any, and any attorney or accountant retained by such Holders or Underwriter<br>to participate, at each such person’s own expense, in the preparation of the Registration Statement, and cause the Company’s<br>officers, directors and employees to supply all information reasonably requested by any such representative, Underwriter, attorney or<br>accountant in connection with the Registration; provided, however, that such representatives or Underwriters enter into<br>a confidentiality agreement, in form and substance reasonably satisfactory to the Company, prior to the release or disclosure of any such<br>information; and provided further, the Company may not include the name of any Holder or Underwriter or any information regarding<br>any Holder or Underwriter in any Registration Statement or Prospectus, any amendment or supplement to such Registration Statement or Prospectus,<br>any document that is to be incorporated by reference into such Registration Statement or Prospectus, or any response to any comment letter,<br>without the prior written consent of such Holder or Underwriter and providing each such Holder or Underwriter a reasonable amount of time<br>to review and comment on such applicable document, which comments the Company shall include unless contrary to applicable law; |
| --- | --- |
| 3.1.11 | obtain a “cold comfort” letter from<br>the Company’s independent registered public accountants in the event of an Underwritten Registration which the participating Holders<br>may rely on, in customary form and covering such matters of the type customarily covered by “cold comfort” letters as the<br>managing Underwriter may reasonably request, and reasonably satisfactory to a majority-in-interest of the participating Holders; |
| --- | --- |
11
| 3.1.12 | on the date the Registrable Securities are delivered<br>for sale pursuant to such Registration, obtain an opinion, dated such date, of counsel representing the Company for the purposes of such<br>Registration, addressed to the Holders, the placement agent or sales agent, if any, and the Underwriters, if any, covering such legal<br>matters with respect to the Registration in respect of which such opinion is being given as the Holders, placement agent, sales agent,<br>or Underwriter may reasonably request and as are customarily included in such opinions and negative assurance letters, and reasonably<br>satisfactory to a majority in interest of the participating Holders; |
|---|---|
| 3.1.13 | in the event of any Underwritten Offering, enter<br>into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing Underwriter of such offering; |
| --- | --- |
| 3.1.14 | make available to its security holders, as soon as reasonably practicable,<br>an earnings statement covering the period of at least twelve (12) months beginning with the first day of the Company’s first full<br>calendar quarter after the effective date of the Registration Statement which satisfies the provisions of Section 11(a) of the<br>Securities Act and Rule 158 thereunder (or any successor rule promulgated thereafter by the Commission); |
| --- | --- |
| 3.1.15 | if the Registration involves the Registration<br>of Registrable Securities involving gross proceeds in excess of $25,000,000, use its reasonable efforts to make available senior executives<br>of the Company to participate in customary “road show” presentations that may be reasonably requested by the Underwriter in<br>any Underwritten Offering; and |
| --- | --- |
| 3.1.16 | otherwise, in good faith, cooperate reasonably<br>with, and take such customary actions as may reasonably be requested by the Holders, in connection with such Registration. |
| --- | --- |
| 3.2 | Registration Expenses. The Registration Expenses of all Registrations<br>shall be borne by the Company. It is acknowledged by the Holders that the Holders shall bear all incremental selling expenses relating<br>to the sale of Registrable Securities, such as Underwriters’ commissions and discounts, brokerage fees, Underwriter marketing costs<br>and, other than as set forth in the definition of “Registration Expenses,” all reasonable fees and expenses of any legal counsel<br>representing the Holders. |
| --- | --- |
| 3.3 | Requirements for Participation in Underwritten Offerings. No<br>person may participate in any Underwritten Offering for equity securities of the Company pursuant to a Registration initiated by the Company<br>hereunder unless such person (i) agrees to sell such person’s securities on the basis provided in any underwriting arrangements<br>approved by the Company and (ii) completes and executes all customary questionnaires, powers of attorney, indemnities, lock-up agreements,<br>underwriting agreements and other customary documents as may be reasonably required under the terms of such underwriting arrangements. |
| --- | --- |
| 3.4 | Suspension of Sales; Adverse Disclosure. Upon receipt of written<br>notice from the Company that a Registration Statement or Prospectus contains a Misstatement, each of the Holders shall forthwith discontinue<br>disposition of Registrable Securities until he, she or it has received copies of a supplemented or amended Prospectus correcting the Misstatement<br>(it being understood that the Company hereby covenants to prepare and file such supplement or amendment as soon as practicable after the<br>time of such notice), or until he, she or it is advised in writing by the Company that the use of the Prospectus may be resumed. If the<br>filing, initial effectiveness or continued use of a Registration Statement in respect of any Registration at any time would require the<br>Company to make an Adverse Disclosure or would require the inclusion in such Registration Statement of financial statements that are unavailable<br>to the Company for reasons beyond the Company’s control, the Company may, upon giving prompt written notice of such action to the<br>Holders, delay the filing or initial effectiveness of, or suspend use of, such Registration Statement for the shortest period of time,<br>but in no event more than thirty (30) days, determined in good faith by the Company to be necessary for such purpose. In the event the<br>Company exercises its rights under the preceding sentence, the Holders agree to suspend, immediately upon their receipt of the notice<br>referred to above, their use of the Prospectus relating to any Registration in connection with any sale or offer to sell Registrable Securities.<br>The Company shall immediately notify the Holders of the expiration of any period during which it exercised its rights under this Section<br>3.4. |
| --- | --- |
12
| 3.5 | Reporting Obligations. As long as any Holder shall own Registrable<br>Securities, the Company, at all times while it shall be a reporting company under the Exchange Act, covenants to file timely (or obtain<br>extensions in respect thereof and file within the applicable grace period) all reports required to be filed by the Company after the date<br>hereof pursuant to Sections 13(a) or 15(d) of the Exchange Act and to promptly furnish the Holders with true and complete<br>copies of all such filings. The Company further covenants that it shall take such further action as any Holder may reasonably request,<br>all to the extent required from time to time to enable such Holder to sell Ordinary Shares held by such Holder without registration under<br>the Securities Act within the limitation of the exemptions provided by Rule 144 promulgated under the Securities Act (or any successor<br>rule promulgated thereafter by the Commission), including providing any legal opinions. Upon the request of any Holder, the Company shall<br>deliver to such Holder a written certification of a duly authorized officer as to whether it has complied with such requirements. |
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Article IV
indemnification and contribution
| 4.1 | Indemnification. |
|---|---|
| 4.1.1 | The Company agrees to indemnify, to the extent<br>permitted by law, each Holder of Registrable Securities, its officers and directors and each person who controls such Holder (within the<br>meaning of the Securities Act) against all losses, claims, damages, liabilities and expenses (including attorneys’ fees) caused<br>by any untrue or alleged untrue statement of material fact contained in any Registration Statement, Prospectus or preliminary Prospectus<br>or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein or<br>necessary to make the statements therein not misleading, except insofar as the same are caused by or contained in any information furnished<br>in writing to the Company by such Holder expressly for use therein. The Company shall indemnify the Underwriters, their officers and directors<br>and each person who controls such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing<br>with respect to the indemnification of the Holder. |
| --- | --- |
| 4.1.2 | In connection with any Registration Statement in which a Holder of Registrable<br>Securities is participating, such Holder shall furnish to the Company in writing such information and affidavits as the Company reasonably<br>requests for use in connection with any such Registration Statement or Prospectus and, to the extent permitted by law, shall indemnify<br>the Company, its directors and officers and agents and each person who controls the Company (within the meaning of the Securities Act)<br>against any losses, claims, damages, liabilities and expenses (including without limitation reasonable attorneys’ fees) resulting<br>from any untrue statement of material fact contained in the Registration Statement, Prospectus or preliminary Prospectus or any amendment<br>thereof or supplement thereto or any omission of a material fact required to be stated therein or necessary to make the statements therein<br>not misleading, but only to the extent that such untrue statement or omission is contained in any information or affidavit so furnished<br>in writing by such Holder expressly for use therein; provided, however, that the obligation to indemnify shall be several,<br>not joint and several, among such Holders of Registrable Securities, and the liability of each such Holder of Registrable Securities shall<br>be in proportion to and limited to the net proceeds received by such Holder from the sale of Registrable Securities pursuant to such Registration<br>Statement. The Holders of Registrable Securities shall indemnify the Underwriters, their officers, directors and each person who controls<br>such Underwriters (within the meaning of the Securities Act) to the same extent as provided in the foregoing with respect to indemnification<br>of the Company. |
| --- | --- |
| 4.1.3 | Any person entitled to indemnification herein<br>shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that<br>the failure to give prompt notice shall not impair any person’s right to indemnification hereunder to the extent such failure has<br>not materially prejudiced the indemnifying party) and (ii) unless in such indemnified party’s reasonable judgment a conflict of<br>interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume<br>the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying<br>party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent shall<br>not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim shall not<br>be obligated to pay the fees and expenses of more than one counsel (plus local counsel) for all parties indemnified by such indemnifying<br>party with respect to such claim, unless in the reasonable judgment of any indemnified party a conflict of interest may exist between<br>such indemnified party and any other of such indemnified parties with respect to such claim. No indemnifying party shall, without the<br>consent of the indemnified party, consent to the entry of any judgment or enter into any settlement which cannot be settled in all respects<br>by the payment of money (and such money is so paid by the indemnifying party pursuant to the terms of such settlement) or which settlement<br>does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from<br>all liability in respect to such claim or litigation. |
| --- | --- |
13
| 4.1.4 | The indemnification provided for under this Agreement<br>shall remain in full force and effect regardless of any investigation made by or on behalf of the indemnified party or any officer, director<br>or controlling person of such indemnified party and shall survive the transfer of securities. The Company and each Holder of Registrable<br>Securities participating in an offering also agrees to make such provisions as are reasonably requested by any indemnified party for contribution<br>to such party in the event the Company’s or such Holder’s indemnification is unavailable for any reason. |
|---|---|
| 4.1.5 | If the indemnification provided under Section 4.1 hereof from<br>the indemnifying party is unavailable or insufficient to hold harmless an indemnified party in respect of any losses, claims, damages,<br>liabilities and expenses referred to herein, then the indemnifying party, in lieu of indemnifying the indemnified party, shall contribute<br>to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities and expenses in such proportion<br>as is appropriate to reflect the relative fault of the indemnifying party and the indemnified party, as well as any other relevant equitable<br>considerations. The relative fault of the indemnifying party and indemnified party shall be determined by reference to, among other things,<br>whether any action in question, including any untrue or alleged untrue statement of a material fact or omission or alleged omission to<br>state a material fact, was made by, or relates to information supplied by, such indemnifying party or indemnified party, and the indemnifying<br>party’s and indemnified party’s relative intent, knowledge, access to information and opportunity to correct or prevent such<br>action; provided, however, that the liability of any Holder under this subsection 4.1.5 shall be limited to the amount<br>of the net proceeds received by such Holder in such offering giving rise to such liability. The amount paid or payable by a party as a<br>result of the losses or other liabilities referred to above shall be deemed to include, subject to the limitations set forth in subsections<br>4.1.1, 4.1.2 and 4.1.3 above, any legal or other fees, charges or expenses reasonably incurred by such party in connection<br>with any investigation or proceeding. The parties hereto agree that it would not be just and equitable if contribution pursuant to this<br>subsection 4.1.5 were determined by pro rata allocation or by any other method of allocation, which does not take account of the<br>equitable considerations referred to in this subsection 4.1.5. No person guilty of fraudulent misrepresentation (within the meaning<br>of Section 11(f) of the Securities Act) shall be entitled to contribution pursuant to this subsection 4.1.5 from any person<br>who was not guilty of such fraudulent misrepresentation. |
| --- | --- |
| 4.2 | Waiver of Medallion Guaranty. The Company agrees to use commercially<br>reasonable efforts to enter into an indemnification agreement in customary form, in favor of Continental Stock Transfer & Trust Company<br>(or any successor transfer agent or warrant agent of the Company) in connection with the waiver of any requirement to provide a medallion<br>guarantee in connection with any Transfer of any equity securities of the Company by the Sponsor, the Representative or any of their Permitted<br>Transferees. |
| --- | --- |
Article V
MISCELLANEOUS
| 5.1 | Notices. Any notice or communication under this Agreement must<br>be in writing and given by (i) deposit in the United States mail, addressed to the party to be notified, postage prepaid and registered<br>or certified with return receipt requested, (ii) delivery in person or by courier service providing evidence of delivery, or (iii) transmission<br>by hand delivery, electronic mail, telecopy, telegram or facsimile. Each notice or communication that is mailed, delivered, or transmitted<br>in the manner described above shall be deemed sufficiently given, served, sent, and received, in the case of mailed notices, on the third<br>business day following the date on which it is mailed and, in the case of notices delivered by courier service, hand delivery, electronic<br>mail, telecopy, telegram or facsimile, at such time as it is delivered to the addressee (with the delivery receipt or the affidavit of<br>messenger) or at such time as delivery is refused by the addressee upon presentation. Any notice or communication under this Agreement<br>must be addressed, if to the Company, to: c/o Cormorant Asset Management, LP, 200 Clarendon Street, 52nd Floor, Boston, MA 02116, and,<br>if to any Holder, at such Holder’s address or contact information as set forth in the Company’s books and records. Any party<br>may change its address for notice at any time and from time to time by written notice to the other parties hereto, and such change of<br>address shall become effective thirty (30) days after delivery of such notice as provided in this Section 5.1. |
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14
| 5.2 | Assignment; No Third-Party Beneficiaries. |
|---|---|
| 5.2.1 | This Agreement and the rights, duties and obligations<br>of the Company hereunder may not be assigned or delegated by the Company in whole or in part. |
| --- | --- |
| 5.2.2 | Prior to the expiration of the Founder Shares<br>Lock-up Period or the Private Placement Lock-up Period, as the case may be, no Holder may assign or delegate such Holder’s rights,<br>duties or obligations under this Agreement, in whole or in part, except in connection with a transfer of Registrable Securities by such<br>Holder to a Permitted Transferee but only if such Permitted Transferee agrees to become bound by the transfer restrictions set forth in<br>this Agreement. |
| --- | --- |
| 5.2.3 | This Agreement and the provisions hereof shall<br>be binding upon and shall inure to the benefit of each of the parties and its successors and the permitted assigns of the Holders, which<br>shall include Permitted Transferees. |
| --- | --- |
| 5.2.4 | This Agreement shall not confer any rights or benefits on any persons<br>that are not parties hereto, other than as expressly set forth in this Agreement and Section 5.2 hereof. |
| --- | --- |
| 5.2.5 | No assignment by any party hereto of such party’s rights, duties<br>and obligations hereunder shall be binding upon or obligate the Company unless and until the Company shall have received (i) written notice<br>of such assignment as provided in Section 5.1 hereof and (ii) the written agreement of the assignee, in a form reasonably satisfactory<br>to the Company, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of<br>joinder to this Agreement). Any transfer or assignment made other than as provided in this Section 5.2 shall be null and void. |
| --- | --- |
| 5.3 | Counterparts. This Agreement may be executed in multiple counterparts<br>(including facsimile or PDF counterparts), each of which shall be deemed an original, and all of which together shall constitute the same<br>instrument, but only one of which need be produced. |
| --- | --- |
| 5.4 | Governing Law; Venue. NOTWITHSTANDING THE PLACE WHERE THIS AGREEMENT<br>MAY BE EXECUTED BY ANY OF THE PARTIES HERETO, THE PARTIES EXPRESSLY AGREE THAT THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED UNDER<br>THE LAWS OF THE STATE OF NEW YORK AS APPLIED TO AGREEMENTS AMONG NEW YORK RESIDENTS ENTERED INTO AND TO BE PERFORMED ENTIRELY WITHIN NEW<br>YORK, WITHOUT REGARD TO THE CONFLICT OF LAW PROVISIONS OF SUCH JURISDICTION. ANY LEGAL SUIT, ACTION OR PROCEEDING ARISING OUT OF OR BASED<br>UPON THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY MAY BE INSTITUTED IN THE FEDERAL COURTS OF THE UNITED STATES OR THE COURTS<br>OF THE STATE OF NEW YORK IN EACH CASE LOCATED IN THE CITY OF NEW YORK, AND EACH PARTY IRREVOCABLY SUBMITS TO THE EXCLUSIVE JURISDICTION<br>OF SUCH COURTS IN ANY SUCH SUIT, ACTION OR PROCEEDING. |
| --- | --- |
| 5.5 | Amendments and Modifications. Upon the written consent of the<br>Company and the Holders of at least a majority in interest of the Registrable Securities at the time in question, compliance with any<br>of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions, covenants or conditions<br>may be amended or modified; provided, however, that notwithstanding the foregoing, any amendment hereto or waiver hereof<br>that adversely affects one Holder, solely in his, her or its capacity as a holder of the capital shares of the Company, in a manner that<br>is materially different from the other Holders (in such capacity) shall require the consent of the Holder so affected. No course of dealing<br>between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising<br>any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single<br>or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any<br>other rights or remedies hereunder or thereunder by such party. |
| --- | --- |
15
| 5.6 | Other Registration Rights. The Company represents and warrants<br>that no person, other than a Holder of Registrable Securities, has any right to require the Company to register any securities of the<br>Company for sale or to include such securities of the Company in any Registration filed by the Company for the sale of securities for<br>its own account or for the account of any other person. Further, the Company represents and warrants that this Agreement supersedes any<br>other registration rights agreement or agreement with similar terms and conditions and in the event of a conflict between any such agreement<br>or agreements and this Agreement, the terms of this Agreement shall prevail. |
|---|---|
| 5.7 | Term. This Agreement shall terminate upon the earlier of (i)<br>the tenth anniversary of the date of this Agreement or (ii) the date as of which (A) all of the Registrable Securities have been sold<br>pursuant to a Registration Statement (but in no event prior to the applicable period referred to in Section 4(a)(3) of the Securities<br>Act and Rule 174 thereunder (or any successor rule promulgated thereafter by the Commission)) or (B) the Holders of all Registrable Securities<br>are permitted to sell the Registrable Securities without registration pursuant to Rule 144 (or any similar provision) under the Securities<br>Act with no volume or other restrictions or limitations. The provisions of Section 3.5 and Article IV hereof shall<br>survive any termination. |
| --- | --- |
[SignaturePage Follows]
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IN WITNESS WHEREOF, the undersigned have caused this Agreement to be executed as of the date first written above.
| COMPANY: | |
|---|---|
| HELIX ACQUISITION CORP. III, | |
| a Cayman Islands exempted company | |
| By: | /s/<br> Bihua Chen |
| Name: | Bihua Chen |
| Title: | Chairperson of the Board and Chief Executive Officer |
| HOLDERS | |
| --- | --- |
| HELIX HOLDINGS III LLC, | |
| a Cayman Islands limited liability company | |
| By: | /s/<br>Bihua Chen |
| Name: | Bihua Chen |
| Title: | Managing Member |
| By: | /s/ Mark<br> McKenna |
| --- | --- |
| Name: | Mark McKenna |
| By: | /s/<br>John Schmid |
| --- | --- |
| Name: | John<br> Schmid |
[Signature Page to Registration Rights Agreement]
Exhibit 10.4
PRIVATE PLACEMENT SHARES PURCHASE AGREEMENT
THIS PRIVATE PLACEMENT SHARES PURCHASE AGREEMENT, dated as of January 22, 2026, (as it may from time to time be amended, this “Agreement”), is entered into by and between Helix Acquisition Corp. III, a Cayman Islands exempted company (the “Company”), and Helix Holdings III LLC, a Cayman Islands limited liability company (the “Purchaser”).
WHEREAS, the Company intends to consummate an initial public offering (the “Public Offering”) of shares of the Company’s Class A Ordinary Shares, par value $0.0001 per share (the “Shares”). The Purchaser has agreed to purchase an aggregate of 475,000 Shares (or 497,500 in the aggregate if the over-allotment option in connection with the Public Offering is exercised in full) (the “Private Placement Shares”).
NOW THEREFORE, in consideration of the mutual promises contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby, intending legally to be bound, agree as follows:
AGREEMENT
Section 1. Authorization,Purchase and Sale; Terms of the Private Placement Shares.
| A. | Authorization of the Private Placement Shares. The Company has duly authorized the issuance and<br>sale of the Private Placement Shares to the Purchaser. |
|---|---|
| B. | Purchase and Sale of the Private Placement Shares. |
| --- | --- |
| (i) | On the date of the consummation of the Public Offering or on such earlier<br>time and date as may be mutually agreed by the Purchaser and the Company (the “Initial Closing Date”), the Company<br>shall issue and sell to the Purchaser, and the Purchaser shall purchase from the Company, an aggregate of 475,000 Private Placement Shares<br>at a price of $10.00 per share for an aggregate purchase price of $4,750,000 (the “Purchase Price”), which shall<br>be paid by wire transfer of immediately available funds to the Company at least one business day prior to the Initial Closing Date in<br>accordance with the Company’s wiring instructions. On the Initial Closing Date, upon the payment by the Purchaser of the Purchase<br>Price, the Company, at its option, shall deliver a certificate evidencing the Private Placement Shares purchased by the Purchaser on such<br>date duly registered in the Purchaser’s name to the Purchaser, or effect such delivery in book-entry form. |
| --- | --- |
| (ii) | On the date of the consummation of the closing of the over-allotment<br>option in connection with the Public Offering or on such earlier time and date as may be mutually agreed by the Purchaser and the Company<br>(each such date, an “Over-Allotment Closing Date”, and each Over-Allotment Closing Date (if any) and the Initial<br>Closing Date being sometimes referred to herein as a “Closing Date”), the Company shall issue and sell to the<br>Purchaser, and the Purchaser shall purchase from the Company, up to an aggregate of 22,500 additional Private Placement Shares at a price<br>of $10.00 per share for an aggregate purchase price of up to $225,000 (if the over-allotment option in connection with the Public Offering<br>is exercised in full) (the “Over-Allotment Purchase Price”). The Purchaser shall pay the Over-Allotment Purchase<br>Price by wire transfer of immediately available funds to the Company at least one business day prior to the Over-Allotment Closing Date<br>in accordance with the Company’s wiring instructions. On the Over-Allotment Closing Date, upon the payment by the Purchaser of the<br>Over-Allotment Purchase Price, the Company shall, at its option, deliver a certificate evidencing the Private Placement Shares purchased<br>by the Purchaser on such date duly registered in the Purchaser’s name to the Purchaser, or effect such delivery in book-entry form. |
| --- | --- |
| C. | Terms of the Private Placement Shares. |
| --- | --- |
| (i) | The Private Placement Shares shall be subject to a letter agreement, dated as of the date hereof, by and<br>among the Purchaser, the Company and certain of the Company’s directors and officers (a “Letter Agreement”). |
| --- | --- |
| (ii) | At the time of the Initial Closing Date, the Company and the Purchaser shall enter into a registration<br>rights agreement (the “Registration Rights Agreement”) pursuant to which the Company will grant certain registration<br>rights to the Purchaser relating to the Private Placement Shares. |
| --- | --- |
Section 2. Representationsand Warranties of the Company. As a material inducement to the Purchaser to enter into this Agreement and purchase the Private Placement Shares, the Company hereby represents and warrants to the Purchaser (which representations and warranties shall survive the Closing Date) that:
| A. | Incorporation and Corporate Power. The Company is an exempted company duly incorporated, validly<br>existing and in good standing under the laws of the Cayman Islands and is qualified to do business in every jurisdiction in which the<br>failure to so qualify would reasonably be expected to have a material adverse effect on the financial condition, operating results or<br>assets of the Company. The Company possesses all requisite corporate power and authority necessary to carry out the transactions contemplated<br>by this Agreement and the Letter Agreement. |
|---|---|
| B. | Authorization; No Breach. |
| --- | --- |
| (i) | The execution, delivery and performance of this Agreement and the Private Placement Shares have been duly<br>authorized by the Company as of the Closing Date. This Agreement constitutes the valid and binding obligation of the Company, enforceable<br>in accordance with its terms. |
| --- | --- |
| (ii) | The execution and delivery by the Company of this Agreement and the Private Placement Shares, the issuance<br>and sale of the Private Placement Shares and the fulfillment of, and compliance with, the respective terms hereof and thereof by the Company,<br>do not and will not as of the Closing Date (a) conflict with or result in a breach of the terms, conditions or provisions of, (b) constitute<br>a default under, (c) result in the creation of any lien, security interest, charge or encumbrance upon the Company’s equity or assets<br>under, (d) result in a violation of, or (e) require any authorization, consent, approval, exemption or other action by or notice or declaration<br>to, or filing with, any court or administrative or governmental body or agency pursuant to the Amended and Restated Memorandum and Articles<br>of Association of the Company in effect on the date hereof or as may be amended prior to completion of the contemplated Public Offering,<br>or any material law, statute, rule or regulation to which the Company is subject, or any agreement, order, judgment or decree to which<br>the Company is subject, except for any filings required after the date hereof under federal or state securities laws. |
| --- | --- |
| C. | Title to Securities. Upon issuance in accordance with, and payment pursuant to, the terms hereof,<br>the Private Placement Shares will be duly and validly issued, fully paid and nonassessable. Upon issuance in accordance with, and payment<br>pursuant to, the terms hereof, and upon registration in the Company’s register of members, the Purchaser will have good title to<br>the Private Placement Shares, free and clear of all liens, claims and encumbrances of any kind, other than (i) transfer restrictions hereunder<br>and under the other agreements contemplated hereby, (ii) transfer restrictions under federal and state securities laws, and (iii) liens,<br>claims or encumbrances imposed due to the actions of the Purchaser. |
| --- | --- |
| D. | Governmental Consents. No permit, consent, approval or authorization of, or declaration to or filing<br>with, any governmental authority is required in connection with the execution, delivery and performance by the Company of this Agreement<br>or the consummation by the Company of any other transactions contemplated hereby. |
| --- | --- |
2
| E. | Regulation D Qualification. Neither the Company nor, to its knowledge, any of its affiliates, members,<br>officers, directors or beneficial shareholders of 20% or more of its outstanding securities, has experienced a disqualifying event as<br>enumerated pursuant to Rule 506(d) of Regulation D under the Securities Act of 1933, as amended (the “Securities Act”). |
|---|
Section 3. Representationsand Warranties of the Purchaser. As a material inducement to the Company to enter into this Agreement and issue and sell the Private Placement Shares to the Purchaser, the Purchaser hereby represents and warrants to the Company (which representations and warranties shall survive each Closing Date) that:
| A. | Organization and Requisite Authority. The Purchaser possesses all requisite power and authority<br>necessary to carry out the transactions contemplated by this Agreement. |
|---|---|
| B. | Authorization; No Breach. |
| --- | --- |
| (i) | This Agreement constitutes a valid and binding obligation of the Purchaser, enforceable in accordance<br>with its terms, subject to bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other laws of general applicability<br>relating to or affecting creditors’ rights and to general equitable principles (whether considered in a proceeding in equity or<br>law). |
| --- | --- |
| (ii) | (The execution and delivery by the Purchaser of this Agreement and the fulfillment of and compliance with<br>the terms hereof by the Purchaser does not and shall not as of each Closing Date conflict with or result in a breach by the Purchaser<br>of the terms, conditions or provisions of any agreement, instrument, order, judgment or decree to which the Purchaser is subject. |
| --- | --- |
| C. | Investment Representations. |
| --- | --- |
| (i) | The Purchaser is acquiring the Private Placement Shares (the “Securities”),<br>for the Purchaser’s own account, for investment purposes only and not with a view towards, or for resale in connection with, any<br>public sale or distribution thereof. |
| --- | --- |
| (ii) | The Purchaser is an “accredited investor” as such term is defined in Rule 501(a)(3) of Regulation<br>D, and the Purchaser has not experienced a disqualifying event as enumerated pursuant to Rule 506(d) under the Securities Act. |
| --- | --- |
| (iii) | The Purchaser understands that the Securities are being offered and will be sold to it in reliance on<br>specific exemptions from the registration requirements of the United States federal and state securities laws and that the Company is<br>relying upon the truth and accuracy of, and the Purchaser’s compliance with, the representations and warranties of the Purchaser<br>set forth herein in order to determine the availability of such exemptions and the eligibility of the Purchaser to acquire such Securities. |
| --- | --- |
| (iv) | The Purchaser did not decide to enter into this Agreement as a result of any general solicitation or general<br>advertising within the meaning of Rule 502(c) of Regulation D under the Securities Act. |
| --- | --- |
| (v) | The Purchaser has been furnished with all materials relating to the business, finances and operations<br>of the Company and materials relating to the offer and sale of the Securities which have been requested by the Purchaser. The Purchaser<br>has been afforded the opportunity to ask questions of the executive officers and directors of the Company. The Purchaser understands that<br>its investment in the Securities involves a high degree of risk and it has sought such accounting, legal and tax advice as it has considered<br>necessary to make an informed investment decision with respect to the acquisition of the Securities. |
| --- | --- |
| (vi) | The Purchaser understands that no United States federal or state agency or any other government or governmental<br>agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the<br>Securities by the Purchaser nor have such authorities passed upon or endorsed the merits of the offering of the Securities. |
| --- | --- |
3
| (vii) | The Purchaser understands that: (a) the Securities have not been and are not being registered under the<br>Securities Act or any state securities laws, and may not be offered for sale, sold, assigned or transferred unless (1) subsequently registered<br>thereunder or (2) sold in reliance on an exemption therefrom; and (b) except as specifically set forth in the Registration Rights Agreement,<br>neither the Company nor any other person is under any obligation to register the Securities under the Securities Act or any state securities<br>laws or to comply with the terms and conditions of any exemption thereunder. While the Purchaser understands that Rule 144 is not available<br>for the resale of securities initially issued by shell companies (other than business combination related shell companies) or issuers<br>that have been at any time previously a shell company, the Purchaser understands that Rule 144 includes an exception to this prohibition<br>if the following conditions are met: (i) the issuer of the securities that was formerly a shell company has ceased to be a shell company;<br>(ii) the issuer of the securities is subject to the reporting requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934,<br>as amended (the “Exchange Act”); (iii) the issuer of the securities has filed all Exchange Act reports and material<br>required to be filed, as applicable, during the preceding 12 months (or such shorter period that the issuer was required to file such<br>reports and materials), other than Form 8-K reports; and (iv) at least one year has elapsed from the time that the issuer filed current<br>Form 10 type information with the U.S. Securities and Exchange Commission (the “SEC”) reflecting its status<br>as an entity that is not a shell company. |
|---|---|
| (viii) | The Purchaser has such knowledge and experience in financial and business matters, knows of the high degree<br>of risk associated with investments in the securities of companies in the development stage such as the Company, is capable of evaluating<br>the merits and risks of an investment in the Securities and is able to bear the economic risk of an investment in the Securities in the<br>amount contemplated hereunder for an indefinite period of time. The Purchaser has adequate means of providing for its current financial<br>needs and contingencies and will have no current or anticipated future needs for liquidity which would be jeopardized by the investment<br>in the Securities. The Purchaser can afford a complete loss of its investment in the Securities. |
| --- | --- |
Section 4. Conditionsof the Purchaser’s Obligations. The obligation of the Purchaser to purchase and pay for the Private Placement Shares is subject to the fulfillment, on or before each Closing Date, of each of the following conditions:
| A. | Representations and Warranties. The representations and warranties of the Company contained in<br>Section 2 hereof shall be true and correct at and as of such Closing Date as though then made. |
|---|---|
| B. | Performance. The Company shall have performed and complied with all agreements, obligations and<br>conditions contained in this Agreement that are required to be performed or complied with by it on or before such Closing Date. |
| --- | --- |
| C. | No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction<br>shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any<br>self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions<br>contemplated by this Agreement or the Letter Agreement. |
| --- | --- |
| D. | Letter Agreement and Registration Rights Agreement. The Company shall have entered into the Letter<br>Agreement and the Registration Rights Agreement, each on terms satisfactory to the Purchaser. |
| --- | --- |
4
Section 5. Conditionsof the Company’s Obligations. The obligations of the Company to the Purchaser under this Agreement are subject to the fulfillment, on or before each Closing Date, of each of the following conditions:
| A. | Representations and Warranties. The representations and warranties of the Purchaser contained in<br>Section 3 hereof shall be true and correct at and as of such Closing Date as though then made. |
|---|---|
| B. | Performance. The Purchaser shall have performed and complied with all agreements, obligations and<br>conditions contained in this Agreement that are required to be performed or complied with by the Purchaser on or before such Closing Date. |
| --- | --- |
| C. | Corporate Consents. The Company shall have obtained the consent of its Board of Directors authorizing<br>the execution, delivery and performance of this Agreement and the Letter Agreement and the issuance and sale of the Private Placement<br>Shares hereunder. |
| --- | --- |
| D. | No Injunction. No litigation, statute, rule, regulation, executive order, decree, ruling or injunction<br>shall have been enacted, entered, promulgated or endorsed by or in any court or governmental authority of competent jurisdiction or any<br>self-regulatory organization having authority over the matters contemplated hereby, which prohibits the consummation of any of the transactions<br>contemplated by this Agreement or the Letter Agreement. |
| --- | --- |
| E. | Letter Agreement. The Company shall have entered into the Letter Agreement on terms satisfactory<br>to the Company. |
| --- | --- |
Section 6. Termination. This Agreement may be terminated at any time after June 30, 2026 upon the election by either the Company or the Purchaser upon written notice to the other party if the closing of the Public Offering does not occur prior to such date.
Section 7. Survival ofRepresentations and Warranties. All of the representations and warranties contained herein shall survive each Closing Date.
Section 8. Definitions. Terms used but not otherwise defined in this Agreement shall have the meaning assigned to such terms in the registration statement on Form S-1 the Company has filed with the SEC under the Securities Act.
Section 9. Miscellaneous.
| A. | Successors and Assigns. Except as otherwise expressly provided herein, all covenants and agreements<br>contained in this Agreement by or on behalf of any of the parties hereto shall bind and inure to the benefit of the respective successors<br>of the parties hereto whether so expressed or not. Notwithstanding the foregoing or anything to the contrary herein, the parties may not<br>assign this Agreement, other than assignments by the Purchaser to affiliates thereof (including, without limitation one or more of its<br>members). |
|---|---|
| B. | Severability. Whenever possible, each provision of this Agreement shall be interpreted in such<br>manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid<br>under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the<br>remainder of this Agreement. |
| --- | --- |
| C. | Counterparts. This Agreement may be executed simultaneously in two or more counterparts, none of<br>which need contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same agreement. |
| --- | --- |
| D. | Descriptive Headings; Interpretation. The descriptive headings of this Agreement are inserted for<br>convenience only and do not constitute a substantive part of this Agreement. The use of the word “including” in this Agreement<br>shall be by way of example rather than by limitation. |
| --- | --- |
| E. | Governing Law. This Agreement shall be deemed to be a contract made under the laws of the State<br>of New York and for all purposes shall be construed in accordance with the internal laws of the State of New York. |
| --- | --- |
| F. | Amendments. This Agreement may not be amended, modified or waived as to any particular provision,<br>except by a written instrument executed by all parties hereto. |
| --- | --- |
[Signature Page Follows]
5
IN WITNESS WHEREOF, the parties hereto have executed this Agreement to be effective as of the date first set forth above.
| COMPANY | |
|---|---|
| HELIX ACQUISITION CORP. III | |
| a Cayman Islands exempted company | |
| By: | /s/ Bihua Chen |
| Name: | Bihua Chen |
| Title: | Chairperson and Chief Executive Officer |
| PURCHASER | |
| HELIX HOLDINGS III LLC | |
| a Cayman Islands limited liability company | |
| By: | /s/ Bihua Chen |
| Name: | Bihua Chen |
| Title: | Managing Member |
[Signature Page to Private Placement OrdinaryClass A Shares Purchase Agreement]
6
Exhibit 10.5
HELIX ACQUISITION CORP. III
c/o Cormorant Asset Management, LP
200 Clarendon Street, 52^nd^ Floor
Boston, MA 02116
January 22, 2026
Helix Holdings III LLC
c/o Cormorant Asset Management, LP
200 Clarendon Street, 52nd Floor
Boston, MA 02116
| Re: | Administrative Services and Indemnification Agreement |
|---|
Ladies and Gentlemen:
This letter agreement (this “Agreement”) by and between Helix Acquisition Corp. III (the “Company”) and Helix Holdings III LLC (the “Sponsor”), dated as of the date hereof, will confirm our agreement that, commencing on the date the securities of the Company are first listed on the Nasdaq Global Market (the “Listing Date”), pursuant to a Registration Statement on Form S-1 and prospectus filed with the U.S. Securities and Exchange Commission (the “RegistrationStatement”) and continuing until the earlier of the consummation by the Company of an initial business combination (“BusinessCombination”) or the Company’s liquidation (in each case as described in the Registration Statement) (such earlier date hereinafter referred to as the “Termination Date”):
| 1. | The Sponsor shall make available, or cause to be made available, to the Company, at c/o Cormorant Asset<br>Management, LP, 200 Clarendon Street, 52nd Floor, Boston, Massachusetts 02116 (or any successor location), office space, utilities and<br>secretarial and administrative services as may be reasonably required by the Company. In exchange therefor, the Company shall pay the<br>Sponsor $6,458 per month on the Listing Date and continuing monthly thereafter until the Termination Date. |
|---|---|
| 2. | The Company agrees to indemnify and hold harmless the Sponsor, its directors, officers, employees, principals,<br>managers, partners, members, shareholders, equityholders, control persons, affiliates, agents, advisors, consultants and representatives<br>(the “Indemnitees”) from any claims, losses, liabilities, obligations, causes of action, proceedings (whether pending or threatened),<br>investigations, damages, awards, settlements, judgments, decrees, fees, costs, penalties, amounts paid in settlement or expenses (including<br>interest, assessments and other charges in connection therewith and reasonable fees and disbursements of attorneys and other professional<br>advisors and costs of suit) arising out of or relating to any pending or threatened claim, action, suit, proceeding or investigation against<br>any of them or in which any of them may be a participant or may otherwise be involved (including as a witness) that arises out of or relates<br>to (i) the Offering or the Company’s operations or conduct of its business (including, for the avoidance of doubt, a Business Combination),<br>or (ii) any claim against the Sponsor alleging any expressed or implied management or endorsement by the Sponsor of any activities of<br>the Company or any express or implied association between the Sponsor, on the one hand, and the Company or any of its affiliates, on the<br>other hand. The Indemnitee will promptly notify the Company in writing of any indemnified claim, provided that failure or delay to give<br>such notice shall not relieve the Company of its indemnification obligations hereunder. The Company will, at its expense, undertake the<br>defense of such claim with attorneys of its own choosing reasonably satisfactory in all respects to such Indemnitee, subject to the right<br>of such Indemnitee to undertake such defense as hereinafter provided. An Indemnitee may participate in such defense with counsel of such<br>Indemnitee’s choosing at the expense of the Company. In the event that the Company does not undertake the defense of any claim within<br>a reasonable time after such Indemnitee has given the notice thereof, or in the event that such Indemnitee shall in good faith determine<br>that the defense of any claim by the Company is inadequate or may conflict with the interest of any Indemnitee, such Indemnitee may, at<br>the expense of the Company and after giving notice to the Company of such action, undertake the defense of the claim and compromise or<br>settle the claim, all for the account of and at the risk of the Company. The Company shall pay all costs and expenses (including, without<br>limitation, attorneys’ fees and costs of experts) incurred by the Indemnitee in connection with Indemnitee’s defense of any<br>such claim promptly (and in any event within 10 days) after receipt of any statement therefor. In the defense of any claim against an<br>Indemnitee, the Company shall not, except with the prior written consent of such Indemnitee, consent to entry of any judgment or enter<br>into any settlement that includes any injunctive or other non-monetary relief or any payment of money by such Indemnitee, or that does<br>not include as an unconditional term thereof the giving by the person or persons asserting such claim to such Indemnitee of an unconditional<br>release from all liability on any of the matters that are the subject of such Claim and an acknowledgement that such Indemnitee denies<br>all wrongdoing in connection with such matters. The Company shall not be obligated to indemnify an Indemnitee against amounts paid in<br>settlement of a claim if such settlement is effected by such Indemnitee without the prior written consent of the Company, which shall<br>not be unreasonably withheld or delayed. If the indemnification provided for in this paragraph is for any reason not available to an Indemnitee<br>as a matter of law in respect of any losses, claims, damages or liabilities referred to herein, then, in lieu of indemnifying such Indemnitee<br>therefor, the Company shall contribute to the amount paid or payable by such Indemnitee as a result of such losses, claims, damages or<br>liabilities (and expenses relating thereto) (a) in such proportion as is appropriate to reflect the relative benefits to the Indemnitee,<br>on the one hand, and the Company, on the other hand, of the subject matter of this Agreement or (b) if the allocation provided by clause<br>(a) above is not available, in such proportion as is appropriate to reflect not only the relative benefits referred to in such clause<br>(a) but also the relative fault of each of such Indemnitee and the Company, as well as any other relevant equitable considerations. Notwithstanding<br>anything to the contrary set forth herein or otherwise, the Company acknowledges and agrees that each Indemnitee shall be an express third-party<br>beneficiary of the provisions of this paragraph 2 and any related provision hereof that is or may extend rights to such Indemnitee. For<br>the avoidance of doubt, the Company’s indemnification obligations contained in this paragraph 2 shall survive the Company’s<br>consummation of a Business Combination. |
| --- | --- |
1
| 3. | The Sponsor hereby irrevocably waives any and all right, title, interest, causes of action and claims<br>of any kind as a result of, or arising out of, this Agreement (each, a “Claim”) in or to, and any and all right<br>to seek payment of any amounts due to it out of, the trust account established for the benefit of the public shareholders of the Company<br>and into which substantially all of the proceeds of the Company’s initial public offering will be deposited (the “TrustAccount”), and hereby irrevocably waives any Claim it may have in the future as a result of, or arising out of, this Agreement,<br>which Claim would reduce, encumber or otherwise adversely affect the Trust Account or any monies or other assets in the Trust Account,<br>and further agrees not to seek recourse, reimbursement, payment or satisfaction of any Claim against the Trust Account or any monies or<br>other assets in the Trust Account for any reason whatsoever. |
|---|
This Agreement constitutes the entire agreement and understanding of the parties hereto in respect of its subject matter and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby.
This Agreement may not be amended, modified or waived as to any particular provision, except by a written instrument executed by the parties hereto.
No party hereto may assign either this Agreement or any of its rights, interests, or obligations hereunder without the prior written approval of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and shall not operate to transfer or assign any interest or title to the purported assignee.
This Agreement shall be governed by and construed in accordance with the laws of the State of New York for agreements made and to be wholly performed within such state, without regards to the conflicts of laws principles thereof.
[Signature Page Follows]
2
| Very truly yours, | |
|---|---|
| HELIX ACQUISITION CORP. III | |
| By: | /s/ Bihua Chen |
| Name: | Bihua Chen |
| Title: | Chairperson and Chief Executive Officer |
[Signature Page to Administrative Services andIndemnification Agreement]
| AGREED AND ACCEPTED BY: | |
|---|---|
| HELIX HOLDINGS III LLC | |
| By: | /s/ Bihua Chen |
| Name: | Bihua Chen |
| Title: | Managing Member |
[Signature Page to Administrative Services andIndemnification Agreement]
Exhibit 99.1
Helix Acquisition Corp. III AnnouncesPricing of Upsized $150 Million Initial Public Offering
January 23, 2026
BOSTON, Jan. 23, 2026 (GLOBE NEWSWIRE) -- Helix Acquisition Corp. III (the “Company”) announced today that it priced its upsized initial public offering of 15,000,000 Class A ordinary shares at $10.00 per share. The shares will be listed on The Nasdaq Global Market and trade under the ticker symbol “HLXC” beginning today. The Company expects the offering to be consummated on January 26, 2026.
The Company is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus on opportunities in healthcare or healthcare-related industries. The Company, sponsored by Helix Holdings III LLC, an affiliate of Cormorant Asset Management, is led by Bihua Chen as Chief Executive Officer and Chairperson, and Caleb Tripp as Chief Financial Officer and Chief Operating Officer.
Leerink Partners and Oppenheimer & Co. are serving as the joint bookrunning managers for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 Class A ordinary shares at the initial public offering price, less underwriting discounts and commissions, to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Leerink Partners LLC, Attn: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com; and Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.
A registration statement relating to these securities became effective on January 22, 2026. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the Securities and Exchange Commission (the “SEC”). Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor and Media Contact
Helix Acquisition Corp. III
Caleb Tripp
Email: caleb@cormorant-asset.com
Telephone: (857) 702-0370
Exhibit 99.2
Helix Acquisition Corp. III Announces Closing of $172.5 Million Initial Public Offering, Including the Full Exercise of the Underwriter's Option to Purchase Additional Shares
January 27, 2026
BOSTON, Jan. 27, 2026 (GLOBE NEWSWIRE) -- Helix Acquisition Corp. III (Nasdaq: HLXC) (the “Company”) announced today that on January 26, 2026, it closed the initial public offering of 17,250,000 Class A ordinary shares, which includes 2,250,000 shares issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per share resulting in gross proceeds of $172,500,000, before deducting underwriting discounts and commissions and other offering expenses payable by the Company.
The Company is a special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. While the Company may pursue an initial business combination target in any business or industry, it intends to focus on opportunities in healthcare or healthcare-related industries. The Company, sponsored by Helix Holdings III LLC, an affiliate of Cormorant Asset Management, is led by Bihua Chen as Chief Executive Officer and Chairperson, and Caleb Tripp as Chief Financial Officer and Chief Operating Officer.
Concurrently with the closing of the initial public offering, the Company completed a private placement of 497,500 Class A ordinary shares at a price of $10.00 per share, to Helix Holdings III LLC, generating gross proceeds to the Company of $4,975,000.
The Company’s Class A ordinary shares began trading on The Nasdaq Global Market under the ticker symbol “HLXC” on January 23, 2026.
Leerink Partners and Oppenheimer & Co. are serving as the joint bookrunning managers for the offering.
The offering was made only by means of a prospectus. Copies of the prospectus may be obtained from: Leerink Partners LLC, Attn: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525 ext. 6105, or by email at syndicate@leerink.com; and Oppenheimer & Co. Inc. Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY 10004, or by telephone at (212) 667-8055, or by email at EquityProspectus@opco.com.
A total of $172,500,000 comprised of the net proceeds from the IPO and simultaneous private placement were placed in trust. An audited balance sheet of the Company as of January 26, 2026 reflecting receipt of the proceeds upon consummation of the initial public offering and the private placement will be included as an exhibit to a Current Report on Form 8-K to be filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”).
A registration statement relating to these securities was declared effective by the SEC on January 22, 2026. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
Investor and Media Contact
Helix Acquisition Corp. III
Caleb Tripp
Email: caleb@cormorant-asset.com
Telephone: (857) 702-0370