Common use of Valid Issuance of Capital Stock Clause in Contracts

Valid Issuance of Capital Stock. The total number of shares of all classes of capital stock, each with a par value of $0.0001 per share, which the Corporation shall have authority to issue is 131,000,000, consisting of (a) 130,000,000 shares of common stock (the “Common Stock”), including (i) 110,000,000 shares of Class A common stock (the “Class A Common Stock”) and (ii) 20,000,000 shares of Class B common stock (the “Class B Common Stock”), and (b) 1,000,000 shares of preferred stock (the “Preferred Stock”). and 1,000,000 shares of preferred stock, $0.0001 par value per share ("Preferred Stock"). As of the date hereof, the Company has issued and outstanding 7,528,875 shares of Class B common stock, par value $0.0001 per share (of which up to 956,250 shares are subject to forfeiture) and no shares of Preferred Stock. All of the issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable.

Valid Issuance of Capital Stock. The total number of shares of all classes of capital stock, each with a par value of $0.0001 per share, which the Corporation shall have authority to issue is 131,000,000, consisting of (a) 130,000,000 shares of common stock (the “Common Stock”), including (i) 110,000,000 shares of Class A common stock (the “Class A Common Stock”) and (ii) 20,000,000 shares of Class B common stock (the “Class B Common Stock”), and (b) 1,000,000 shares of preferred stock (the “Preferred Stock”). and 1,000,000 shares of preferred stock, $0.0001 par value per share ("Preferred Stock"). As of the date hereof, the Company has issued and outstanding 7,528,875 shares of Class B common stock, par value $0.0001 per share (of which up to 956,250 shares are subject to forfeiture) and no shares of Preferred Stock. All of the issued shares of capital stock of the Company have been duly authorized, validly issued, and are fully paid and non-assessable.