Exhibit 10.3
REGISTRATION RIGHTS AGREEMENT
THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of , 2021, is made and entered into by and among dMY Technology Group, Inc. VI, a Delaware corporation (the “Company”), dMY Sponsor VI, LLC, a Delaware limited liability company (the “Sponsor”) and 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 5,031,250 shares of Class B common stock, par value $0.0001 per share (the “Founder Shares”), issued and outstanding, up to 656,250 of which will be forfeited 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 shares of the Company’s Class A common stock, par value $0.0001 per share (the “Common Stock”), on the terms and conditions provided in the Company’s amended and restated certificate of incorporation (the “Charter”);
WHEREAS, on [•], 2021, the Company and the Sponsor entered into that certain Private Placement Warrants Purchase Agreement (the “Private Placement Warrants Purchase Agreement”), pursuant to which the Sponsor agreed to purchase 5,500,000 private placement warrants (or up to 6,025,000 warrants to the extent that the over-allotment option in connection with the Company’s initial public offering is exercised) (the “Private Placement Warrants”) 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 or an affiliate of the Sponsor or certain 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 private placement-equivalent warrants (“Working Capital Warrants”) at a price of $1.00 per warrant at the option of the lender;
WHEREAS, under the Charter, subject to the Sponsor satisfying the conditions set forth in Section 9.1(a) thereof, if the Company anticipates that it may not be able to consummate an initial business combination within 18 months, it may, but is not obligated to, by resolution of the Board if requested by the Sponsor, extend the period of time to consummate the initial business combination once by an additional three months (for a total of 21 months to complete an initial business combination);
WHEREAS, as a condition to extending the period of time to consummate the initial business combination from 18 months to 21 months, the Sponsor or its affiliates or designees, upon five days advance notice prior to the initial deadline, must deposit into the Trust Account $1,750,000 (or $2,012,500 if the Underwriters exercise their over-allotment option in full ($0.10 per share of Class A common stock in either case), adjusted proportionately in the case of a partial exercise), on or prior to the date of the initial deadline (the “Extension Loans”);
WHEREAS, the Extension Loans may be converted in whole or in part, at the option of the Sponsor or its affiliates or designees, as applicable, into warrants at a price of $1.00 per warrant (the “Extension Warrants”); 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:
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