Memorandum and Articles of Association”) if the Company fails to consummate a Business Combination within the time period indicated in the Amended and Restated Memorandum and Articles of Association (the “Liquidation”); provided, however, that pursuant to the Warrant Agreement (as defined below), a fractional warrant may not be exercised, so that only a whole number of warrants may be exercised at any given time by a holder thereof. As used herein, the term “Business Combination” (as described more fully in the Prospectus) shall mean a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses involving the Company.
The Company has entered into an Investment Management Trust Agreement, effective as of August 3, 2021, with Continental Stock Transfer & Trust Company (“CST”), as trustee, in substantially the form filed as Exhibit 10.3 to the Registration Statement (the “Trust Agreement”), pursuant to which the proceeds from the sale of the Private Placement Warrants (as defined below) and certain proceeds of the Offering will be deposited and held in a U.S. based trust account (the “Trust Account”) for the benefit of the Company, the Underwriters and the holders of the Firm Units and the Optional Units, if and when issued in each case as described more fully in the Prospectus.
The Company has entered into a Warrant Agreement, effective as of August 3, 2021, with respect to the Warrants, the Private Placement Warrants and the Forward Purchase Warrants (as defined below) with CST, as warrant agent, in substantially the form filed as Exhibit 4.4 to the Registration Statement (the “Warrant Agreement”), pursuant to which CST will act as warrant agent in connection with the issuance, registration, transfer, exchange, redemption, and exercise of the Warrants, the Private Placement Warrants and the Forward Purchase Warrants.
The Company has entered into a Securities Subscription Agreement, dated as of March 11, 2021, with Blue Whale Sponsor I LLC, a Cayman Islands limited liability company (the “Sponsor”), in substantially the form filed as Exhibit 10.5 to the Registration Statement (the “Founder’s Subscription Agreement”), pursuant to which the Sponsor then held an aggregate of 5,750,000 Class B ordinary shares, par value $0.0001 per share, of the Company, which it received for an aggregate purchase price of $25,000. On July 1, 2021, the Sponsor transferred 25,000 Class B ordinary shares to each of David H. Johnson, Gregg Walker, Jordan Zachary, Zahavah Levine and Russ Pillar. Pursuant to a re-organization of the Company’s share capital effective July 5, 2021, the Class B ordinary shares have been cancelled and were recapitalized into 2,222,222 Class F ordinary shares, par value $0.0001 per share, and 4,444,445 Class G ordinary shares, par value $0.0001 per share, of the Company (such Class F ordinary shares and Class G ordinary shares, including the Ordinary Shares issuable upon conversion thereof, the “Founder Shares”). The Founder Shares are substantially similar to the Ordinary Shares included in the Units, except as described in the Prospectus.
The Company has entered into a Sponsor Warrants Purchase Agreement, effective as of August 3, 2021 with the Sponsor, in substantially the form filed as Exhibit 10.6 to the Registration Statement (the “Sponsor Warrant Purchase Agreement”), pursuant to which the Sponsor agreed to purchase an aggregate of 3,000,000 warrants (or 3,300,000 warrants if the Underwriters’ over-allotment option is exercised in full), each entitling the holder to purchase one Ordinary Share (the “Private Placement Warrants”), for $2.00 per Private Placement Warrant. The Private Placement Warrants are substantially similar to the Warrants included in the Units, except as described in the Prospectus.
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