Common use of Authorization of the Placement Shares Clause in Contracts

Authorization of the Placement Shares. The Placement Shares, when issued and paid for in accordance with this Agreement, will be validly issued, fully paid and nonassessable, will be issued in compliance with federal and state securities laws, and any applicable Cayman Islands laws, and will be free of preemptive, registration or similar rights, and will conform to the description of the Ordinary Shares contained in the Registration Statement and the Prospectus.