SPAC Merger Sub Shares. All of the shares of SPAC Merger Sub issued and outstanding immediately prior to the Effective Time shall be converted into the right to receive an equal number of shares of the SPAC Surviving Subsidiary, with the same rights, powers and privileges as the shares so converted and shall constitute the only outstanding shares of the SPAC Surviving Subsidiary.
SPAC Merger Sub Shares. All SPAC Merger Sub Shares issued and outstanding immediately prior to the SPAC Merger Effective Time shall automatically be converted into one validly issued, fully paid and non-assessable ordinary share of SPAC, which ordinary share shall constitute the only issued and outstanding share in the capital of the SPAC Merger Surviving Corporation.
