30,000,000 Units Aldabra 2 Acquisition Corp. UNDERWRITING AGREEMENT
Exhibit 1.1
30,000,000 Units
•, 2007
Lazard Capital Markets LLC
As Representative of the
Several Underwriters
00 Xxxxxxxxxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
As Representative of the
Several Underwriters
00 Xxxxxxxxxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Ladies and Gentlemen:
Aldabra 2 Acquisition Corp., a Delaware corporation (the “Company”), proposes to sell
to the several underwriters (the “Underwriters”) named in Schedule I hereto for whom you
are acting as representative (the “Representative”) an aggregate of 30,000,000 units (the
“Firm Units”), with each unit consisting of one share of the Company’s common stock,
$0.0001 par value (the “Common Stock”) and one warrant (“Warrant”) to purchase one
share of Common Stock. The respective amounts of Firm Units to be so purchased by each of the
several Underwriters are set forth opposite their respective names in Schedule I hereto. The
Company also proposes to sell, at the Underwriters’ option (“Over-allotment Option”), an
aggregate of up to 4,500,000 additional units of the Company (the “Option Units”) as set
forth below. The terms of the Warrants are provided for in the form of a Warrant Agreement (as
defined herein).
As the Representative, you have advised the Company (a) that you are authorized to enter into
this Agreement on behalf of the several Underwriters, and (b) that the several Underwriters are
willing, acting severally and not jointly, to purchase the numbers of Firm Units set forth opposite
their respective names in Schedule I, plus their pro rata portion of the Option Units if you elect
to exercise the Over-allotment Option in whole or in part for the accounts of the several
Underwriters. The Firm Units and the Option Units (to the extent the aforementioned option is
exercised) are hereinafter collectively referred to as the “Units”, and the Units, the
shares of Common Stock and the Warrants included in the Units and the shares of Common Stock
issuable upon exercise of the Warrants included in the Units are hereinafter referred to as the
“Securities.”
In consideration of the mutual agreements contained herein and of the interests of the parties
in the transactions contemplated hereby, the parties hereto agree as follows:
1. Representations and Warranties of the Company.
The Company represents and warrants to each of the Underwriters as follows:
(a) A registration statement on Form S-1 (File No. 333-141398) with respect to the Securities
has been prepared by the Company in conformity with the requirements of the Securities Act of 1933,
as amended (the “Act”), and the rules and regulations (the “Rules and Regulations”)
of the Securities and Exchange Commission (the “Commission”) thereunder and has been filed
with the Commission. Copies of such registration statement, including any amendments thereto, the
preliminary prospectuses (meeting the requirements of the Rules and Regulations) contained therein
and the exhibits, financial statements and schedules, as finally amended and revised, have
heretofore been delivered by the Company to you. Such registration statements [filed with the
Commission on •, 2007], together with any registration statement filed by the Company pursuant to
Rule 462(b) under the Act, is herein referred to as the “Registration Statement,” which
shall be deemed to include all information omitted therefrom in reliance upon Rules 430A or 430C
under the Act and contained in the Prospectus referred to below, has become effective under the Act
and no post-effective amendment to the Registration Statement has been filed as of the date of this
Agreement (the “Effective Date”). “Prospectus” means the form of prospectus filed
with the Commission pursuant to and within the time limits described in Rule 424(b) under the Act.
The preliminary prospectus included in the Registration Statement as of the Applicable Time (as
defined below) is herein referred to as the “Preliminary Prospectus.” Any reference herein
to the Prospectus shall be deemed to include any supplements or amendments thereto filed with the
Commission after the date of filing of the Prospectus under Rule 424(b) under the Act, and prior to
the termination of the offering of the Units by the Underwriters. The Company has filed with the
Commission a Form 8-A (File Number 001-33541) providing for the registration under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), of the Securities.
(b) As of the Applicable Time and as of the Closing Date or the Option Closing Date, as the
case may be, the Statutory Prospectus (as defined below) and the information included on Schedule
II hereto, all considered together (collectively, the “General Disclosure Package”)
did not and will not include any untrue statement of a material fact and did not and will not omit
to state a material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading; provided, however, that the Company makes
no representations or warranties as to information contained in or omitted from the General
Disclosure Package in reliance upon, and in conformity with, written information furnished to the
Company by or on behalf of any Underwriter through the Representative specifically for use therein,
it being understood and agreed that the only such information is that described in Section 11
herein. The Company has not prepared or used and will not prepare or use a “free writing
prospectus” as defined in Rule 405 under the Act, in connection with the offering of Securities. As
used in this subsection and elsewhere in this Agreement:
“Applicable Time” means [5:00 p.m.] (New York time) on the date of this Agreement or
such other time as agreed to by the Company and the Representative.
“Statutory Prospectus” as of any time means the Preliminary Prospectus relating to the
Securities that is included in the Registration Statement immediately prior to the Applicable Time.
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(c) The Company has been duly organized and is validly existing as a corporation in good
standing under the laws of the State of Delaware, with corporate power and authority to own or
lease its properties and conduct its business as described in the Registration Statement, the
General Disclosure Package and the Prospectus. The Company has no subsidiaries, direct or
indirect. The Company is duly qualified to transact business and in good standing in all
jurisdictions in which the conduct of its business requires such qualification except for any
jurisdiction where the failure to be so qualified would not be reasonably expected to have a
Material Adverse Effect (as defined below).
(d) The outstanding shares of Common Stock have been duly authorized and validly issued and
are fully paid and non-assessable. The shares of Common Stock included in the Units have been duly
authorized and, when issued and paid for as contemplated herein, will be validly issued, fully paid
and non-assessable; and no preemptive rights of stockholders exist with respect to any of such
shares or the issue and sale thereof. The shares of Common Stock issuable upon exercise of the
Warrants have been duly authorized and, when issued and paid for as contemplated in the Warrants
and the Warrant Agreement, will be validly issued, fully paid and non-assessable; and no preemptive
rights of stockholders exist with respect to any of such shares or the issue and sale thereof.
(e) The Warrants included in the Units have been duly authorized and, when executed by the
Company, countersigned in the manner provided for in the Warrant Agreement and delivered and paid
for as contemplated herein, will constitute valid and binding obligations of the Company,
enforceable against the Company in accordance with their terms, except as enforcement thereof may
be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
enforcement of creditors’ rights generally and except as enforcement thereof is subject to
equitable principles of general applicability (regardless of whether enforcement is considered in a
proceeding in equity or at law).
(f) Neither the filing of the Registration Statement nor the offering or sale of the Units as
contemplated by this Agreement gives rise to any rights, other than those which have been waived or
satisfied, for or relating to the registration of any securities of the Company except for those
rights provided for in the Registration Rights Agreement, dated as of the date hereof, by and among
the Company and the Initial Stockholders (defined below). Except as set forth in the Registration
Statement, the General Disclosure Package and the Prospectus, and except for those rights provided
for in the Registration Rights Agreement, dated as of [the date hereof], by and among the Company
and certain stockholders of the Company, no holders of any securities of the Company or any rights
exercisable for or convertible or exchangeable into securities of the Company have the right to
require the Company to register any such securities of the Company under the Act or to include any
such securities in a registration statement to be filed by the Company.
(g) The information set forth under the caption “Capitalization” in the Registration Statement
and the Prospectus (and any similar section or information contained in the General Disclosure
Package) is true and correct. All of the Securities conform to the descriptions thereof contained
in the Registration Statement, the General Disclosure Package and the Prospectus. The form of the
certificates for the shares of Common Stock conforms to the General Corporation law of the State of
Delaware.
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(h) Neither the Commission nor any state regulatory authority has issued an order preventing
or suspending the use of the Preliminary Prospectus or the Prospectus relating to the proposed
offering of the Units, and no proceeding for that purpose or pursuant to Section 8A of the Act has
been instituted or, to the Company’s knowledge, threatened by the Commission or any state
regulatory authority. Neither the Commission nor any state regulatory authority has issued any
order preventing or suspending the effectiveness of the Registration Statement and no proceeding
for that purpose or pursuant to Section 8A of the Act has been instituted or is pending or, to the
Company’s knowledge, is contemplated or threatened by the Commission. The Registration Statement
and the Prospectus and any amendments or supplements thereto will comply as to form to the
requirements of the Act and the Rules and Regulations. The Registration Statement and any
amendment thereto do not contain, and will not contain, any untrue statement of a material fact and
do not omit, and will not omit, to state a material fact required to be stated therein or necessary
to make the statements therein not misleading. The Prospectus and any amendments and supplements
thereto do not contain, and will not contain, any untrue statement of a material fact; and do not
omit, and will not omit, to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not misleading; provided,
however, that the Company makes no representations or warranties as to information contained in or
omitted from the Registration Statement or the Prospectus, or any such amendment or supplement, in
reliance upon, and in conformity with, written information furnished to the Company by or on behalf
of any Underwriter through the Representative specifically for use therein, it being understood and
agreed that the only such information is that described in Section 11 herein.
(i) The Company has not, directly or indirectly, distributed and will not distribute any
offering material in connection with the offering and sale of the Units other than the Preliminary
Prospectus, the Prospectus and other materials, if any, permitted under the Act.
(j) The financial statements of the Company, together with related notes and schedules as set
forth in the Registration Statement, the General Disclosure Package and the Prospectus, present
fairly the financial position and the results of operations and cash flows of the Company, at the
indicated dates and for the indicated periods. Such financial statements and related schedules
comply with the applicable accounting requirements of the Act and the Rules and Regulations and
have been prepared in accordance with generally accepted accounting principles in the United States
(“GAAP”), consistently applied throughout the periods involved, except as disclosed
therein, and all adjustments necessary for a fair presentation of results for such periods have
been made. The summary and selected financial and statistical data included in the Registration
Statement, the General Disclosure Package and the Prospectus present fairly the information shown
therein and such data has been compiled on a basis consistent with the financial statements
presented therein and the books and records of the Company. The Company does not have any material
liabilities or obligations, direct or contingent (including any off-balance sheet obligations or
any “variable interest entities” within the meaning of Financial Accounting Standards Board
Interpretation No. 46), not disclosed in the Registration Statement, the General Disclosure Package
and the Prospectus. There are no financial statements (historical or pro forma) that are required
to be included in the Registration Statement, the General Disclosure Package or the Prospectus that
are not included as required.
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(k) Xxxxxxxxx Xxxxx Xxxxxxx LLP, who have certified certain financial statements that are
filed with the Commission as part of the Registration Statement, the General Disclosure Package and
the Prospectus, is an independent registered public accounting firm with respect to the Company
within the meaning of the Act and the applicable Rules and Regulations and the Public Company
Accounting Oversight Board (United States) (the “PCAOB”).
(l) Except as disclosed in the Registration Statement, the General Disclosure Package and the
Prospectus, the Company is not aware of any (i) material weakness in its internal control over
financial reporting or (ii) change in internal control over financial reporting that has materially
affected, or is reasonably likely to materially affect, the Company’s internal control over
financial reporting.
(m) Solely to the extent that the Xxxxxxxx-Xxxxx Act of 2002, as amended, and the rules and
regulations promulgated by the Commission and the American Stock Exchange thereunder (the
“Xxxxxxxx-Xxxxx Act”) has been applicable to the Company, there is and has been no failure
on the part of the Company to comply in all material respects with any provision of the
Xxxxxxxx-Xxxxx Act. The Company has taken all necessary actions to ensure that it is in compliance
with all provisions of the Xxxxxxxx-Xxxxx Act that are in effect and with which the Company is
required to comply and is actively taking steps to ensure that it will be in compliance with other
provisions of the Xxxxxxxx-Xxxxx Act which have been proposed which are not currently in effect or
which will become applicable to the Company.
(n) There is no action, suit, claim or proceeding pending or, to the knowledge of the Company,
threatened against the Company or, to the knowledge of the Company, pending or threatened against
any of the Company’s stockholders immediately prior to the offering of Units (the “Initial
Stockholders”) or any person listed in the Registration Statement as a special advisor
(collectively, the “Special Advisors”), before any court or administrative agency or
otherwise which if determined adversely to the Company would either (i) have, individually or in
the aggregate, a material adverse effect on the earnings, business, management, properties, assets,
rights, operations, condition (financial or otherwise) or prospects of the Company or (ii) prevent
the consummation of the transactions contemplated hereby (the occurrence of any such effect or any
such prevention described in the foregoing clauses (i) and (ii) being referred to as a
“Material Adverse Effect”), except as set forth in the Registration Statement, the General
Disclosure Package and the Prospectus.
(o) All leases of the Company described in the Registration Statement, the General Disclosure
Package and the Prospectus are valid and subsisting and in full force and effect.
(p) Since the respective dates as of which information is given in the Registration Statement,
the General Disclosure Package and the Prospectus, as each may be amended or supplemented, there
has not been any event or development in respect of the business or condition of the Company that,
individually or in the aggregate, would have a Material Adverse Effect, whether or not occurring in
the ordinary course of business, and there has not been any material transaction entered into or
any material transaction that is probable of being entered into by the Company, other than
transactions in the ordinary course of business and changes and transactions described in the
Registration Statement, the General Disclosure
5
Package and the Prospectus, as each may be amended or supplemented, and no member of the
Company’s management has resigned from any position with the Company. The Company has no material
contingent obligations which are not disclosed in the Company’s financial statements which are
included in the Registration Statement, the General Disclosure Package and the Prospectus.
Subsequent to the respective dates as of which information is given in the Registration
Statement, the General Disclosure Package and the Prospectus, except as otherwise specifically
stated therein or in this Agreement, the Company has not: (i) issued any securities or incurred
any liability or obligation, direct or contingent, for borrowed money; or (ii) declared or paid any
dividend or made any other distribution on or in respect of its capital stock.
(q) The Company is not, nor with the giving of notice or lapse of time or both, will be, (i)
in violation of its amended and restated certificate of incorporation or by-laws, (ii) in violation
of or in default under any agreement, lease, contract, indenture or other instrument or obligation
to which it is a party or by which it, or any of its properties, is bound or (iii) in violation of
any law, order, rule or regulation, judgment, order, writ or decree applicable to the Company of
any court or of any government, regulatory body or administrative agency or other governmental body
having jurisdiction over the Company, its properties or assets. The execution, delivery and
performance of this Agreement, the Warrant Agreement, the Escrow Agreement and the Trust Agreement
(each as defined below), and the consummation of the transactions herein and therein contemplated
and the fulfillment of the terms hereof and thereof will not conflict with or result in a breach of
any of the terms or provisions of, or constitute a default under, any indenture, mortgage, deed of
trust or other agreement or instrument to which the Company is a party or by which the Company or
any of its properties is bound, or of the amended and restated certificate of incorporation or
by-laws of the Company or any law, order, rule or regulation judgment, order, writ or decree
applicable to the Company of any court or of any government, regulatory body or administrative
agency or other governmental body having jurisdiction over the Company, its properties or assets.
(r) The execution and delivery of, and the performance by the Company of its obligations
under, this Agreement, the Warrant Agreement, the Escrow Agreement and the Trust Agreement have
been duly and validly authorized by all necessary corporate action on the part of the Company, and
this Agreement has been duly executed and delivered by the Company. On the Closing Date, the
Warrant Agreement, the Escrow Agreement and the Trust Agreement will have been duly executed and
delivered and they will constitute the valid and binding agreements of the Company, enforceable
against the Company in accordance with their respective terms, except (i) as such enforceability
may be limited by bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
enforcement of creditors’ rights generally; (ii) as such enforceability is subject to equitable
principles of general applicability (regardless of whether enforcement is considered in a
proceeding in equity or at law); and (iii) as enforceability of any indemnification and
contribution provisions may be limited under state or federal securities laws.
(s) Each approval, consent, order, authorization, designation, declaration or filing by or
with any regulatory, administrative or other governmental body necessary in connection with the
execution and delivery by the Company of this Agreement, the Warrant Agreement, the Escrow
Agreement and the Trust Agreement, and the consummation of the
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transactions herein and therein contemplated (except for such additional steps as may be
required by the Commission, the National Association of Securities Dealers, Inc. (the
“NASD”) or such additional steps as may be necessary to qualify the Securities for public
offering by the Underwriters under state securities or Blue Sky laws) has been obtained or made and
is in full force and effect.
(t) The Company holds all material licenses, certificates and permits from governmental
authorities which are necessary to the conduct of its business.
(u) Neither the Company, nor to the Company’s knowledge, any of its affiliates, has taken or
will take, directly or indirectly, any action designed to cause or result in, or which has
constituted or which might reasonably be expected to constitute, the stabilization or manipulation
of the price of the shares of Common Stock to facilitate the sale or resale of the Securities.
(v) The Company is not and, after giving effect to the offering and sale of the Units
contemplated hereunder and the application of the net proceeds from such sale as described in the
Registration Statement, the General Disclosure Package and the Prospectus, will not be an
“investment company” within the meaning of such term under the Investment Company Act of 1940, as
amended (the “1940 Act”), and the rules and regulations of the Commission thereunder.
(w) The Company maintains a system of internal accounting controls sufficient to provide
reasonable assurances that (i) transactions are executed in accordance with management’s general or
specific authorization; (ii) transactions are recorded as necessary to permit preparation of
financial statements in conformity with GAAP and to maintain accountability for assets; (iii)
access to assets is permitted only in accordance with management’s general or specific
authorization; and (iv) the recorded accountability for assets is compared with existing assets at
reasonable intervals and appropriate action is taken with respect to any differences.
(x) The statistical, industry-related and market-related data related to private equity and
leveraged buyouts included in the Registration Statement, the General Disclosure Package and the
Prospectus are based on or derived from sources which the Company reasonably and in good faith
believes are reliable and accurate, and such data agree with the sources from which they are
derived.
(y) The operations of the Company are and have been conducted at all times in compliance with
applicable financial record-keeping and reporting requirements of the Currency and Foreign
Transactions Reporting Act of 1970, as amended, applicable money laundering statutes and applicable
rules and regulations thereunder (collectively, the “Money Laundering Laws”), and no
action, suit or proceeding by or before any court or governmental agency, authority or body or any
arbitrator involving the Company with respect to the Money Laundering Laws is pending or, to the
Company’s knowledge, threatened.
(z) Neither the Company nor, to the Company’s knowledge, any director, officer, Special
Advisor, agent, employee or affiliate of the Company, is currently subject to any U.S. sanctions
administered by the Office of Foreign Assets Control of the U.S. Treasury
7
Department (“OFAC”); and the Company will not directly or indirectly use the proceeds
of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary,
joint venture partner or other person or entity, for the purpose of financing the activities of any
person currently subject to any U.S. sanctions administered by OFAC.
(aa) The Company is in compliance in all material respects with all presently applicable
provisions of the Employee Retirement Income Security Act of 1974, as amended, including the
regulations and published interpretations thereunder (“ERISA”); no “reportable event” (as
defined in ERISA) has occurred with respect to any “pension plan” (as defined in ERISA) for which
the Company would have any liability; the Company has not incurred and does not expect to incur
liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any
“pension plan” or (ii) Sections 412 or 4971 of the Internal Revenue Code of 1986, as amended,
including the regulations and published interpretations thereunder (the “Code”); and each
“pension plan” for which the Company would have any liability that is intended to be qualified
under Section 401(a) of the Code is so qualified in all material respects and nothing has occurred,
whether by action or by failure to act, which would cause the loss of such qualification.
(bb) To the Company’s knowledge, there are no affiliations or associations between any member
of the NASD and any of the Company’s officers, directors, Special Advisors, or 5% or greater
securityholders (prior to the sale of securities contemplated by this Agreement).
(cc) The Units, the Warrants and the Common Stock have been approved for listing subject to
notice of issuance on the American Stock Exchange.
(dd) There are no relationships or related-party transactions involving the Company or any
other person required to be described in the Registration Statement, the General Disclosure Package
and the Prospectus which have not been described as required.
(ee) The Company has not made any contribution or other payment to any official of, or
candidate for, any federal, state or foreign office in violation of any law which violation is
required to be disclosed in the Registration Statement, the General Disclosure Package and the
Prospectus.
(ff) All information contained in the questionnaires (the “Questionnaires”) completed
by Xxxxxx Xxxxxx and Xxxxx Xxxxx and provided to the Representatives is true and correct in all
respects and the Company has not become aware of any information which would cause the information
disclosed in the Questionnaires completed by Xxxxxx Xxxxxx and Xxxxx Xxxxx to become inaccurate or
incorrect in any respect. To the Company’s knowledge, all information contained in the
Questionnaires completed by each of the Company’s Special Advisors and Initial Stockholders other
than Xxxxxx Xxxxxx and Xxxxx Xxxxx and provided to the Representative is true and correct in all
respects and the Company has not become aware of any information which would cause the information
disclosed in the Questionnaires completed by each of the Company’s Special Advisors and Initial
Stockholders other than Xxxxxx Xxxxxx and Xxxxx Xxxxx to become inaccurate or incorrect in any
respect.
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(gg) There are no claims, payments, arrangements, agreements or understandings relating to the
payment of a finder’s, consulting or origination fee by the Company, any Initial Stockholder or any
Special Advisor with respect to the sale of the Securities hereunder or any other arrangements,
agreements or understandings of the Company or, to the Company’s knowledge, any Initial Stockholder
or any Special Advisor, that may affect the Underwriters’ compensation, as determined by the NASD.
The Company has not made any direct or indirect payments (in cash, securities or otherwise) to: (i)
any person, as a finder’s fee, consulting fee or otherwise, in consideration of such person raising
capital for the Company or introducing to the Company persons who raised or provided capital to the
Company; (ii) any NASD member; or (iii) any person or entity that has any direct or indirect
affiliation or association with any NASD member, within the twelve months prior to the Effective
Date. None of the net proceeds of the offering will be paid by the Company to any participating
NASD member or its affiliates, except as specifically authorized herein and except as may be paid
in connection with an initial merger, capital stock exchange, asset acquisition or other similar
business combination with an operating business (“Business Combination”), including without
limitation in connection with the payment of investment banking fees, fees in connection with
fairness opinions and other similar fees or expenses.
(hh) The Company has entered into a warrant agreement with respect to the Warrants with
Continental Stock Transfer & Trust Company, which agreement is substantially in the form of Exhibit
4.4 to the Registration Statement (the “Warrant Agreement”). The Company has entered into
an Investment Management Trust Agreement (the “Trust Agreement”) with respect to certain
proceeds of the offering, which agreement is substantially in the form of Exhibit 10.6 to the
Registration Statement. The Company has entered into a stock escrow agreement with respect to the
shares of Common Stock held by the Initial Stockholders with Continental Stock Transfer & Trust
Company and the Initial Stockholders, which agreement is substantially in the form of Exhibit 10.7
to the Registration Statement (the “Stock Escrow Agreement”).
(ii) The Company has caused to be duly executed legally binding and enforceable agreements
(except (i) as enforcement thereof may be limited by bankruptcy, insolvency, reorganization,
moratorium or similar laws affecting enforcement of creditors’ rights generally; (ii) as
enforcement thereof is subject to equitable principles of general applicability (regardless of
whether enforcement is considered in a proceeding in equity or at law); and (iii) as enforceability
of any indemnification and contribution provisions may be limited under state or federal securities
laws) in the form filed as Exhibits 10.1 – 10.5 to the Registration Statement (the “Insider
Letters”), pursuant to which each of the Initial Stockholders of the Company has agreed to
certain matters including, but not limited to, certain matters described as being agreed to by such
Initial Stockholder under the “Proposed Business” section of the Registration Statement, the
General Disclosure Package and the Prospectus.
(jj) Except as disclosed in the Registration Statement, the General Disclosure Package and the
Prospectus, no Initial Stockholder, Special Advisor, employee, officer or director of the Company
is subject to any non-competition or non-solicitation agreement with any employer or prior employer
which could materially affect his ability to be an Initial Stockholder, Special Advisor, employee,
officer and/or director of the Company.
9
(kk) Upon delivery and payment for the Firm Units on the Closing Date and the filing of the
Closing 8-K (as defined below) promptly thereafter, the Company will not be subject to Rule 419
under the Act and none of the Company’s outstanding securities will be deemed to be a “xxxxx stock”
as defined in Rule 3a-51-1 under the Exchange Act.
(ll) The Company does not have any specific Business Combination under consideration or
contemplation and the Company has not, nor has anyone on its behalf, either directly or indirectly,
contacted any potential target business or their representatives or had any discussions, formal or
otherwise, with any of the foregoing with respect to effecting a business combination with the
Company. The Company has not engaged or retained any agent or other representative to identify or
locate any suitable target.
2. Purchase, Sale and Delivery of the Firm Units.
(a) On the basis of the representations, warranties and covenants herein contained, and
subject to the conditions herein set forth, the Company agrees to sell to the Underwriters and each
Underwriter agrees, severally and not jointly, to purchase, at a price of $9.60 per Unit (the
“Initial Purchase Price”) (less $0.30 per Unit purchased hereunder (the “Deferred
Discount”) payable to the Underwriters upon consummation of a Business Combination, subject to
Section 4(hh) hereof), the number of Firm Units set forth opposite the name of each Underwriter in
Schedule I hereof, subject to any adjustments as may be made in accordance with Section 13 hereof.
(b) Payment for the Firm Units to be sold hereunder is to be made in Federal (same day) funds
against delivery of certificates therefor to the Representative for the several accounts of the
Underwriters. Such payment and delivery are to be made through the facilities of The Depository
Trust Company (“DTC”), New York, New York at 10:00 a.m., New York time, on the third
business day after the Firm Units commence trading or at such other time and date not later than
five business days thereafter as you and the Company shall agree upon, such time and date being
herein referred to as the “Closing Date.” (As used herein, “business day” means a day on
which the New York Stock Exchange is open for trading and on which banks in New York are open for
business and are not permitted by law or executive order to be closed.) Payment of $287,260,000,
representing the aggregate purchase price for the Firm Units based on the Initial Purchase Price
less offering expenses of $740,000, shall be made on the Closing Date by wire transfer in Federal
(same day) funds, as follows: $287,060,000 (including $9,000,000, representing the aggregate
Deferred Discount without giving effect to the Over-allotment Option) shall be deposited by the
Representative directly in the trust account established by the Company for the benefit of the
public securityholders as described in the Registration Statement (the “Trust Account”)
pursuant to the terms of the Trust Agreement, and the remaining $200,000 of the proceeds not
required to be held in the Trust Account shall be paid to the Company, upon delivery to you of
certificates (in form and substance satisfactory to the Representative) representing the Firm Units
(or through the facilities of DTC) for the account of the Underwriters. The certificates for the
Firm Units will be delivered in such denominations and in such registrations as the Representative
requests in writing not later than the second full business day prior to the Closing Date, and will
be made available for inspection by the Representative at least one business day prior to the
Closing Date.
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(c) In addition, on the basis of the representations and warranties herein contained and
subject to the terms and conditions herein set forth, the Company hereby grants to the several
Underwriters the Over-allotment Option to purchase the Option Units at the same price per Unit as
is set forth in the first paragraph of this Section 2 with respect to the Firm Units. The
Over-allotment Option granted hereby may be exercised in whole or in part by giving written notice
at any time within 45 days after the date of this Agreement, by you, as Representative of the
several Underwriters, to the Company which notice shall set forth the number of Option Units as to
which the several Underwriters are exercising the option and the time and date at which such
certificates are to be delivered. The time and date at which certificates for Option Units are to
be delivered shall be determined by the Representative but shall not be earlier than three nor
later than 10 full business days after the exercise of such option, nor in any event prior to the
Closing Date (such time and date being herein referred to as the “Option Closing Date”).
If the date of exercise of the option is three or more days before the Closing Date, the notice of
exercise shall set the Closing Date as the Option Closing Date. The number of Option Units to be
purchased by each Underwriter shall be in the same proportion to the total number of Option Units
being purchased as the number of Firm Units being purchased by such Underwriter bears to the total
number of Firm Units, adjusted by you in such manner as to avoid fractional units. The
Over-allotment Option granted hereunder may be exercised only to cover over-allotments in the sale
of the Firm Units by the Underwriters. You, as Representative of the several Underwriters, may
cancel such option at any time prior to its expiration by giving written notice of such
cancellation to the Company. To the extent, if any, that the option is exercised, payment for the
Option Units shall be made on the Option Closing Date in Federal (same day funds) through the
facilities of DTC in New York, New York drawn to the order of the Company. Payment for the Option
Units shall be made on the Option Closing Date by wire transfer in Federal (same day) funds, as
follows: $9.60 per Option Unit sold (including the Deferred Discount) shall be deposited in the
Trust Account pursuant to the Trust Agreement upon delivery to you of certificates (in form and
substance satisfactory to the Representative) representing the Option Units sold (or through the
facilities of DTC) for the account of the Underwriters.
3. Offering by the Underwriters.
It is understood that the several Underwriters are to make a public offering of the Firm Units
as soon as the Representative deems it advisable to do so. The Firm Units are to be initially
offered to the public at the initial public offering price set forth in the Prospectus. The
Representative may from time to time thereafter change the public offering price and other selling
terms. It is further understood that you will act as the Representative for the Underwriters in
the offering and sale of the Units in accordance with a Master Agreement Among Underwriters entered
into by you and the several other Underwriters.
4. Covenants of the Company.
The Company covenants and agrees with the several Underwriters, and solely with respect to
Section 4(b), the Underwriters covenant and agree with the Company, that:
(a) The Company will (A) prepare and timely file with the Commission under Rule 424(b) of the
Rules and Regulations a Prospectus in a form approved by the Representative
11
containing information previously omitted at the time of effectiveness of the Registration
Statement in reliance on Rules 430A or 430C of the Rules and Regulations and (B) not file any
amendment to the Registration Statement or distribute an amendment or supplement to the General
Disclosure Package or the Prospectus of which the Representative shall not previously have been
advised and furnished with a copy or to which the Representative shall have reasonably objected in
writing or which is not in compliance with the Rules and Regulations.
(b) The Company and each of the Underwriters will not make any offer relating to the
Securities that would constitute a “free writing prospectus” (as defined in Rule 405 under the Act)
required to be filed by the Company with the Commission under Rule 433 under the Act.
(c) The Company will advise the Representative promptly (A) when the Registration Statement or
any post-effective amendment thereto shall have become effective, (B) of receipt of any comments
from the Commission, (C) of any request of the Commission for amendment of the Registration
Statement or for supplement to the General Disclosure Package or the Prospectus or for any
additional information, and (D) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement or any order preventing or suspending the use of the
Preliminary Prospectus or the Prospectus, or of the institution of any proceedings for that purpose
or pursuant to Section 8A of the Act. The Company will use its reasonable best efforts to prevent
the issuance of any such order and to obtain as soon as possible the lifting thereof, if issued.
(d) The Company will cooperate with the Representative in endeavoring to qualify the
Securities for sale under the securities laws of such jurisdictions as the Representative may
reasonably have designated in writing and will make such applications, file such documents, and
furnish such information as may be reasonably required for that purpose, provided the Company shall
not be required to qualify as a foreign corporation or to file a general consent to service of
process in any jurisdiction where it is not now so qualified or required to file such a consent.
The Company will, from time to time, prepare and file such statements, reports, and other
documents, as are or may be required to continue such qualifications in effect for so long a period
as the Representative may reasonably request for distribution of the Securities.
(e) The Company will deliver to, or upon the order of, the Representative, from time to time,
as many copies of the Preliminary Prospectus as the Representative may reasonably request. The
Company will deliver to, or upon the order of, the Representative during the period when delivery
of a Prospectus (or, in lieu thereof, the notice referred to under Rule 173(a) under the Act) is
required under the Act, as many copies of the Prospectus in final form, or as thereafter amended or
supplemented, as the Representative may reasonably request. The Company will deliver to the
Representative at or before the Closing Date, four signed copies of the Registration Statement and
all amendments thereto including all exhibits filed therewith, and will deliver to the
Representative such number of copies of the Registration Statement (including such number of copies
of the exhibits filed therewith that may reasonably be requested), and of all amendments thereto,
as the Representative may reasonably request.
(f) The Company will comply with the Act and the Rules and Regulations, and the Exchange Act,
and the rules and regulations of the Commission thereunder, so as to
12
permit the completion of the distribution of the Units as contemplated in this Agreement and
the Prospectus. If during the period in which a prospectus (or, in lieu thereof, the notice
referred to under Rule 173(a) under the Act) is required by law to be delivered by an Underwriter
or dealer, any event shall occur as a result of which, in the judgment of the Company or in the
reasonable opinion of the Underwriters, it becomes necessary to amend or supplement the Prospectus
in order to make the statements therein, in the light of the circumstances existing at the time the
Prospectus is delivered to a purchaser, not misleading, or, if it is necessary at any time to amend
or supplement the Prospectus to comply with any law, the Company promptly will prepare and file
with the Commission an appropriate amendment to the Registration Statement or supplement to the
Prospectus so that the Prospectus as so amended or supplemented will not, in the light of the
circumstances when it is so delivered, be misleading, or so that the Prospectus will comply with
applicable law.
(g) If the General Disclosure Package is being used to solicit offers to buy the Securities at
a time when the Prospectus is not yet available to prospective purchasers and any event shall occur
as a result of which, in the judgment of the Company or in the reasonable opinion of the
Underwriters, it becomes necessary to amend or supplement the General Disclosure Package in order
to make the statements therein, in the light of the circumstances under which they were made, not
misleading, or to make the statements therein not conflict with the information contained in the
Registration Statement then on file, or if it is necessary at any time to amend or supplement the
General Disclosure Package to comply with any applicable law, the Company promptly will prepare,
file with the Commission (if required) and furnish to the Underwriters and any dealers an
appropriate amendment or supplement to the General Disclosure Package.
(h) The Company will make generally available to its security holders, as soon as it is
practicable to do so, but in any event not later than 15 months after the Effective Date, an
earnings statement (which need not be audited) in reasonable detail, covering a period of at least
12 consecutive months beginning after the Effective Date, which earnings statement shall satisfy
the requirements of Section 11(a) of the Act and Rule 158 under the Act and will advise you when
such statement has been so made available.
(i) Prior to the Closing Date, if requested, the Company will furnish to the Underwriters, as
soon as they have been prepared by or are available to the Company, a copy of any unaudited interim
financial statements of the Company for any period subsequent to the period covered by the most
recent financial statements appearing in the Registration Statement and the Prospectus.
(j) Except for securities issued in the Private Placement (as defined below), the Company
hereby agrees that until the Company consummates a Business Combination, it shall not issue any
shares of Common Stock or any options or other securities convertible into Common Stock, or any
shares of preferred stock which participate in any manner in the Trust Account or which vote as a
class with the Common Stock on a Business Combination.
(k) The Company will use its best efforts to effect and maintain the listing of the Securities
on the American Stock Exchange (“AMEX”) until the consummation of a Business Combination.
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(l) The Company shall apply the net proceeds of its sale of the Securities as set forth in the
Registration Statement, General Disclosure Package and the Prospectus and shall file such reports
with the Commission with respect to the sale of the Securities and the application of the proceeds
therefrom as may be required in accordance with Rule 463 under the Act.
(m) The Company will maintain a transfer agent, warrant agent and, if necessary under the
jurisdiction of incorporation of the Company, a registrar for the Units, Common Stock and Warrants,
as applicable.
(n) The Company will not take, directly or indirectly, any action that constitutes or might
reasonably be expected to constitute, the stabilization or manipulation of the price of any
securities of the Company.
(o) For a period of four years from the Effective Date or such earlier time upon which the
Company is required to be liquidated, the Company will maintain the registration of the Securities
under the provisions of the Exchange Act (except in connection with a going private transaction).
(p) For a period of four years from the Effective Date or until such earlier date upon which
the Company is required to be liquidated (or the Company ceases public reporting as a result of a
going private transaction), the Company, at its expense, shall cause its regularly engaged
independent registered public accounting firm to review (but not audit) the Company’s financial
statements for each of the first three fiscal quarters prior to the announcement of quarterly
financial information and the filing of the Company’s Form 10-Q quarterly report.
(q) The Company shall not consummate a Business Combination with any Initial Stockholder,
Special Advisor or officer or director of the Company, or any entity which is affiliated with any
Initial Stockholder, Special Advisor or officer or director of the Company without first obtaining
an opinion from an independent investment banking firm that such Business Combination is fair to
the Company’s stockholders from a financial point of view.
(r) Except as described in the Registration Statement, General Disclosure Package and the
Prospectus, the Company shall not pay any Initial Stockholder, Special Advisor or any of their
affiliates or family members any fees or compensation from the Company, for services rendered to
the Company prior to, or in connection with, the consummation of an initial Business Combination;
provided that the Initial Stockholders shall be entitled to reimbursement from the Company, subject
to approval by the Board of Directors of the Company, for their reasonable out-of-pocket expenses
incurred in connection with seeking and consummating an initial Business Combination.
(s) The Company will take all necessary actions to ensure that, upon and at all times after
the effectiveness of the Registration Statement, it will be in compliance with (i) all provisions
of the Xxxxxxxx-Xxxxx Act that are then in effect and applicable to it and shall take such steps as
are necessary to ensure that it will be in compliance with other provisions of the Xxxxxxxx-Xxxxx
Act which have been proposed but which are not currently in effect upon the effectiveness of such
provisions to the extent they are applicable to the Company and (ii) the
14
requirements of the American Stock Exchange’s AMEX Company Guide if the Company’s securities
are listed on the AMEX.
(t) For a period of four years from the Effective Date or until such earlier time upon which
the Company is required to be liquidated, the Company, upon request from the Representative, will
furnish to the Representative (i) copies of such financial statements and other periodic and
special reports as the Company from time to time furnishes generally to holders of any class of
securities, and promptly furnish to the Representative a copy of such registration statements,
financial statements and periodic and special reports as the Company shall be required to file with
the Commission and from time to time furnishes generally to holders of any such class of its
securities, and (ii) such additional documents and information with respect to the Company and the
affairs of any future subsidiaries of the Company as the Representative may from time to time
reasonably request, in each such case subject to the execution of a confidentiality agreement
reasonably satisfactory to the Company.
(u) For a period equal to four years from the date hereof or until such earlier time upon
which the Company is required to be liquidated, the Company will not take any action or actions
which may prevent or disqualify the Company’s use of Form S-1 (or other appropriate form) for the
registration of the Warrants and the Common Stock issuable upon exercise of the Warrants, under the
Act (except in connection with a going private transaction).
(v) In the event any person or entity (excluding attorneys, accountants and similar service
providers that are not affiliated or associated with the NASD and are not brokers or finders) is
engaged, in writing, to assist the Company in finding or evaluating a merger candidate, the Company
will provide the following to the Representative prior to consummation of an initial Business
Combination: (i) copies of agreements governing said services (which details or agreements may be
appropriately redacted to account for privilege or confidentiality concerns), and (ii) a
justification as to why the person or entity providing the merger and acquisition services should
not be considered an “underwriter or related person” with respect to the Company’s initial public
offering as such term is defined in Rule 2710(a)(6) of the NASD Conduct Rules. The Company also
agrees that proper disclosure of such arrangement or potential arrangement will be made in the
proxy statement which the Company will file for purposes of soliciting stockholder approval for the
initial Business Combination.
(w) The Company will maintain a system of internal accounting controls sufficient to provide
reasonable assurances that: (i) transactions are executed in accordance with management’s general
or specific authorization; (ii) transactions are recorded as necessary in order to permit
preparation of financial statements in accordance with generally accepted accounting principles and
to maintain accountability for assets; (iii) access to assets is permitted only in accordance with
management’s general or specific authorization; and (iv) the recorded accountability for assets is
compared with existing assets at reasonable intervals and appropriate action is taken with respect
to any differences.
(x) The Company shall, on the date hereof, retain its independent public accountants to audit
the financial statements of the Company as of the Closing Date (the “Audited Financial
Statements”) reflecting the receipt by the Company of the proceeds of the initial public
offering. As soon as the Audited Financial Statements become available, the
15
Company shall promptly file a Current Report on Form 8-K with the Commission (the “Closing
8-K”), which Closing 8-K shall contain the Company’s Audited Financial Statements. In addition,
upon receipt of the proceeds from the sale of any Option Units after the Closing Date, the Company
shall promptly file a second or amended Current Report on Form 8-K with the Commission, which
Report shall provide updated financial information to reflect the receipt of such additional
proceeds.
At or prior to the commencement of separate trading of the Warrants and Common Stock, the
Company shall promptly issue a press release announcing that separate trading of the Warrants and
Common Stock will begin on the AMEX.
(y) The Company shall advise the NASD if it is aware that any 5% or greater securityholder of
the Company becomes an affiliate or associated person of an NASD member participating in the
distribution of the Securities.
(z) The Company shall, as set forth in the Trust Agreement and disclosed in the Prospectus,
cause the proceeds of the offering to be held in the Trust Account to be invested only in
“government securities” within the meaning of Section 2(a)(16) of the 1940 Act with a maturity of
180 days or less, or in money market funds meeting certain conditions under Rule 2a-7 promulgated
under the 1940 Act with specific maturity dates. The Company will otherwise use its best efforts
to conduct its business (both prior to and after the consummation of an initial Business
Combination) in a manner so that it will not become subject to the 0000 Xxx.
(aa) The Company hereby agrees that prior to commencing a diligence investigation of, or if
earlier, entering into a confidentiality or other agreement with, a company with which the Company
may enter into a Business Combination (“Target Business”) or obtaining the services of any
vendor or service provider, it will use its best efforts to cause the Target Business or the vendor
or service provider to execute a waiver letter in the form attached hereto as Exhibit A and B,
respectively. Furthermore, prior to the Closing Date, each officer and director of the Company
shall execute a waiver letter in the form attached hereto as Exhibit C.
(bb) The Company shall not take any action or omit to take any action that would cause the
Company to be in breach or violation of its amended and restated certificate of incorporation or
by-laws and, the Company shall not take any action to amend or modify the provisions of its amended
and restated certificate of incorporation that apply to the Company during the period commencing
upon the filing of the certificate of incorporation with the Delaware Secretary of State and
terminating upon the consummation of a Business Combination, which action would result in such
amendment or modification becoming effective prior to the consummation of an initial Business
Combination.
(cc) The Company agrees: (i) that, prior to the consummation of any Business Combination, it
will submit such transaction to the Company’s stockholders for their approval (“Initial
Transaction Vote”) even if the nature of the acquisition is such as would not ordinarily
require stockholder approval under applicable state law; and (ii) that, in the event that the
Company does not effect a Business Combination within 24 months from the Effective Date, the
Company will be liquidated as described in the Prospectus. With respect to the Initial Transaction
Vote, the Company shall cause all of the Initial Stockholders to vote all shares of
16
Common Stock owned by them and acquired prior to this offering (the “Initial Shares”),
in accordance with the vote of the majority of the IPO Shares (as hereinafter defined) voted (in
person or by proxy), at a meeting of the Company’s stockholders called for the Initial Transaction
Vote. At the time the Company seeks approval of any potential initial Business Combination, the
Company will offer each of the holders of the Company’s Common Stock issued in this offering other
than the Initial Stockholders (the “IPO Shares”) the right to convert such holder’s IPO
Shares to cash, if the stockholder votes against the Business Combination and the Business
Combination is approved and completed, at a per share price (the “Conversion Price”) equal
to the amount in the Trust Account, inclusive of any interest then held in the Trust Account, as of
two business days prior to the consummation of the Business Combination divided by the total number
of IPO Shares (including any shares held by the Initial Stockholders). If the Company elects to
proceed with a Business Combination, it will promptly after the consummation of such Business
Combination convert shares, based upon the Conversion Price, from those holders of IPO Shares who
affirmatively requested such conversion and who voted against the initial Business Combination;
provided that such holders continue to hold such IPO Shares through consummation of the Business
Combination. If a majority of the IPO Shares that are voted are not voted in favor of any initial
Business Combination or holders of 40% or more of the IPO Shares vote against approval of any
potential initial Business Combination and exercise their conversion rights, the Company will not
proceed with such initial Business Combination and will not convert such shares.
(dd) The Company agrees that it will use its best efforts to prevent the Company from becoming
subject to Rule 419 under the Act prior to the consummation of any Business Combination, including,
but not limited to, using its best efforts to prevent any of the Company’s outstanding securities
from being deemed to be a “xxxxx stock” as defined in Rule 3a-51-1 under the Exchange Act during
such period.
(ee) The Company agrees that the initial Target Business(es) that it acquires must
collectively have a fair market value equal to at least 80% of the Company’s net assets at the time
of such acquisition. The fair market value of such business(es) shall be determined by the Board of
Directors of the Company based upon one or more standards generally accepted by the financial
community. If the Board of Directors of the Company is not able to independently determine that the
Target Business(es) have a sufficient fair market value, the Company will obtain an opinion from an
unaffiliated, independent investment banking firm with respect to the satisfaction of such
criteria. The Company will not be required to obtain an opinion from an investment banking firm as
to the fair market value if the Company’s Board of Directors independently determines that the
Target Business(es) have sufficient fair market value. The Company will not acquire less than a
controlling interest in the Target Business(es) (which would be at least 50% of each Target
Business’s voting securities).
(ff) The Company shall deposit into the Trust Account the $3,000,000 of proceeds from the
private placement (“Private Placement”) of 3,000,000 Warrants to Xxxxxx Xxxxxx and Xxxxx
Xxxxx, to be completed on the Closing Date.
(gg) If the Over-allotment Option is not exercised in full, then promptly following the
earlier to occur of the expiration or termination of the Over-allotment Option, the Company will
cause the Initial Stockholders to forfeit shares of Common Stock in an aggregate
17
amount (up to 750,000 shares of Common Stock) sufficient to cause the Initial Stockholders to
maintain control over Initial Shares in an amount equal to 20% of the Company’s outstanding Common
Stock after giving effect to the offering of the Units and the exercise, if any, of the
Over-allotment Option. For the avoidance of doubt, if the Underwriters exercise the Over-allotment
Option in full, the Initial Stockholders shall not be required to forfeit any shares of Common
Stock pursuant to this subsection.
(hh) Upon consummation of the initial Business Combination, the Company shall pay the Deferred
Discount to the Representative, on behalf of the Underwriters, as the deferred portion of the
Underwriters’ compensation. The Deferred Discount shall be payable as soon as is practicable by
the Representative to the Underwriters in proportion to their respective underwriting commitments.
5. Costs and Expenses.
The Company will pay all out of pocket costs, expenses and fees incident to the performance of
the obligations of the Company under this Agreement, including, without limiting the generality of
the foregoing, the following: accounting fees of the Company; the fees and disbursements of
counsel for the Company; the cost of printing and delivering to, or as requested by, the
Underwriters copies of the Registration Statement, Preliminary Prospectuses, the Prospectus, this
Agreement and the Listing Application; the filing fees of the Commission; the filing fees, costs
and expenses (including fees and disbursements of Underwriters’ counsel) incident to securing any
required review by the NASD of the terms of the sale of the Units; if necessary, the costs and
expenses (including fees and disbursements of Underwriters’ counsel) of qualifying the Securities
for sale under state or foreign securities or “blue sky” laws; and the Listing Fee of the American
Stock Exchange. The Company will also pay (or reimburse the Representative upon demand for) the
cost of an investigative search firm (up to a maximum of $25,000) of the Representative’s choice to
conduct an investigation of each individual named in the Preliminary Prospectus or the Prospectus
as a sponsor, officer, director or special advisor to the Company and will reimburse the
Underwriters for their out of pocket expenses incurred by the Underwriters in connection with any
“road show” or other presentations to prospective purchasers of Units. The Company shall not,
however, be required to pay for any of the Underwriters’ expenses except as otherwise specifically
provided herein and except that, if this Agreement shall not be consummated because the conditions
in Section 6 hereof are not satisfied by reason of any failure or refusal on the part of the
Company to perform any reasonably requested undertaking or satisfy any condition of this Agreement
or to comply with any of the terms hereof on its part to be performed, unless such failure or
refusal is due primarily to the default or omission of any Underwriter, the Company shall reimburse
the several Underwriters for reasonable out-of-pocket expenses, including fees and disbursements of
counsel, reasonably incurred in connection with investigating, marketing and proposing to market
the Units or in contemplation of performing their obligations hereunder.
6. Conditions of Obligations of the Underwriters.
The several obligations of the Underwriters to purchase the Firm Units on the Closing Date and
the Option Units, if any, on the Option Closing Date are subject to the accuracy, as of the
Applicable Time, the Closing Date or the Option Closing Date, as the case
18
may be, of the representations and warranties of the Company contained herein, and to the
performance by the Company of its covenants and obligations hereunder and to the following
additional conditions:
(a) The Registration Statement and all post-effective amendments thereto shall have become
effective and the Prospectus shall have been filed as required by Rule 424 under the Act, within
the time period prescribed by, and in compliance with, the Rules and Regulations, and any request
of the Commission for additional information (to be included in the Registration Statement or
otherwise) shall have been disclosed to the Representative and complied with to its reasonable
satisfaction. No stop order suspending the effectiveness of the Registration Statement, as amended
from time to time, shall have been issued and no proceedings for that purpose or pursuant to
Section 8A under the Act shall have been taken or, to the knowledge of the Company, shall be
contemplated or threatened by the Commission and no injunction, restraining order or order of any
nature by a Federal or state court of competent jurisdiction shall have been issued as of the
Closing Date which would prevent the issuance of the Units.
(b) The Representative shall have received on the Closing Date or the Option Closing Date, as
the case may be, the opinion of Xxxxxxxx Xxxxxx, counsel for the Company, dated the Closing Date or
the Option Closing Date, as the case may be, addressed to the Underwriters (and stating that it may
be relied upon by counsel to the Underwriters) in substantially the form attached hereto as Exhibit
D.
In rendering such opinion Xxxxxxxx Xxxxxx may rely as to matters governed by the laws of
states other than New York or Federal laws on local counsel in such jurisdictions, provided that in
each case Xxxxxxxx Xxxxxx shall state that they believe that they and the Underwriters are
justified in relying on such other counsel.
(c) The Representative shall have received on and as of the Closing Date or the Option Closing
Date, as the case may be, an opinion and statement of Xxxxxx Xxxxxxxx Xxxxx & Xxxxxxxx LLP, counsel
for the Underwriters, with respect to such matters as the Representative may reasonably request,
and such counsel shall have received such documents and information as they may reasonably request
to enable them to pass upon such matters.
(d) You shall have received, on each of the date hereof, the Closing Date and, if applicable,
the Option Closing Date, a letter dated the date hereof, the Closing Date or the Option Closing
Date, as the case may be, in form and substance satisfactory to you, of Xxxxxxxxx Xxxxx Xxxxxxx LLP
confirming that they are an independent registered public accounting firm with respect to the
Company within the meaning of the Act and the applicable Rules and Regulations and the PCAOB and
stating that in their opinion the financial statements and schedules examined by them and included
in the Registration Statement, the General Disclosure Package and the Prospectus comply in form in
all material respects with the applicable accounting requirements of the Act and the related Rules
and Regulations; and containing such other statements and information as are ordinarily included in
accountants’ “comfort letters” to underwriters with respect to the financial statements and certain
financial and statistical information contained in the Registration Statement, the General
Disclosure Package and the Prospectus.
19
(e) The Representative shall have received on the Closing Date and, if applicable, the
Option Closing Date, as the case may be, a certificate or certificates of the Chief Executive
Officer and the Chief Financial Officer of the Company to the effect that, as of the Closing Date
or the Option Closing Date, as the case may be, each of them severally represents as follows:
(i) The Registration Statement has become effective under the Act and
no stop order suspending the effectiveness of the Registration Statement and
no order preventing or suspending the use of the Preliminary Prospectus or
the Prospectus has been issued, and no proceedings for such purpose or
pursuant to Section 8A of the Act have been taken or are, to his or her
knowledge, contemplated or threatened by the Commission;
(ii) The representations and warranties of the Company contained in
Section 1 hereof are true and correct as of the Closing Date or the Option
Closing Date, as the case may be (except for representations and warranties
which refer to a particular date, in which case such representations and
warranties shall be true and correct as of such date);
(iii) All filings required to have been made pursuant to Rules 424,
430A, 430B or 430C under the Act have been made as and when required by such
rules;
(iv) He or she has carefully examined the General Disclosure Package
and, in his or her opinion, as of the Applicable Time, the statements
contained in the General Disclosure Package did not contain any untrue
statement of a material fact, and such General Disclosure Package did not
omit to state a material fact necessary in order to make the statements
therein, in the light of the circumstances under which they were made, not
misleading;
(v) He or she has carefully examined the Registration Statement and,
in his or her opinion, as of the effective date of the Registration
Statement, the Registration Statement and any amendments thereto did not
contain any untrue statement of a material fact and did not omit to state a
material fact required to be stated therein or necessary in order to make
the statements therein not misleading, and since the effective date of the
Registration Statement, no event has occurred which should have been set
forth in a supplement to or an amendment of the Prospectus which has not
been so set forth in such supplement or amendment;
(vi) He or she has carefully examined the Prospectus and, in his or
her opinion, as of its date and the Closing Date or the Option Closing Date,
as the case may be, the Prospectus and any amendments and supplements
thereto did not contain any untrue statement of a material fact
20
and did not omit to state a material fact necessary in order to make
the statements therein, in the light of the circumstances under which they
were made, not misleading; and
(vii) Since the respective dates as of which information is given in
the Registration Statement, the General Disclosure Package and the
Prospectus, there has not been any material adverse change or any
development involving a prospective material adverse change in or affecting
the business, management, properties, assets, rights, operations, condition
(financial or otherwise) or prospects of the Company, whether or not arising
in the ordinary course of business.
(f) The Company shall have furnished to the Representative such further certificates and
documents confirming the representations and warranties, covenants and conditions contained herein
and related matters as the Representative may reasonably have requested.
(g) The Firm Units and Option Units, if any, shall have been duly listed, subject to notice of
issuance, on the American Stock Exchange.
(h) The Company shall have delivered to the Representative executed copies of the Trust
Agreement, the Warrant Agreement, the Stock Escrow Agreement and each of the Insider Letters.
(i) The NASD shall not have raised any objection with respect to the fairness and
reasonableness of the underwriting terms and arrangements.
The opinions and certificates mentioned in this Agreement shall be deemed to be in compliance
with the provisions hereof only if they are in all material respects reasonably satisfactory to the
Representative and to Xxxxxx Xxxxxxxx Xxxxx & Xxxxxxxx LLP, counsel for the Underwriters.
If any of the conditions hereinabove provided for in this Section 6 shall not have been
fulfilled when and as required by this Agreement to be fulfilled, the obligations of the
Underwriters hereunder may be terminated by the Representative by notifying the Company of such
termination in writing at or prior to the Closing Date or the Option Closing Date, as the case may
be.
In such event, the Company and the Underwriters shall not be under any obligation to each
other (except to the extent provided in Sections 5 and 8 hereof).
7. Indemnification and Contribution.
(a) The Company shall indemnify and hold harmless each Underwriter, its affiliates
and each of its and their respective directors, officers, members, employees, representatives and
agents and each person, if any, who controls any Underwriter within the meaning of Section 15 of
the Act of or Section 20 of the Exchange Act (collectively the
21
“Underwriter Indemnified Parties,” and each an “Underwriter Indemnified
Party”) against any loss, claim, damage, expense or liability whatsoever (or any action,
investigation or proceeding in respect thereof), joint or several, to which such Underwriter
Indemnified Party may become subject, under the Act or otherwise, insofar as such loss, claim,
damage, expense, liability, action, investigation or proceeding arises out of or is based upon (A)
any untrue statement or alleged untrue statement of a material fact contained in any Preliminary
Prospectus, any Registration Statement or the Prospectus, or in any amendment or supplement thereto
or document incorporated by reference therein, or (B) the omission or alleged omission to state in
any Preliminary Prospectus, any Registration Statement or the Prospectus, or in any amendment or
supplement thereto or document incorporated by reference therein, a material fact required to be
stated therein or necessary to make the statements therein not misleading, or (C) any breach of the
representations and warranties of the Company contained herein or failure of the Company to perform
its obligations hereunder or pursuant to any law, any act or failure to act, or any alleged act or
failure to act, by any Underwriter in connection with, or relating in any manner to, the Securities
or the offering of the Securities contemplated herein, and which is included as part of or referred
to in any loss, claim, damage, expense, liability, action, investigation or proceeding arising out
of or based upon matters covered by subclause (A), (B) or (C) above of this Section 7(a) (provided
that the Company shall not be liable in the case of any matter covered by this subclause (C) to the
extent that it is determined in a final judgment by a court of competent jurisdiction that such
loss, claim, damage, expense or liability resulted directly from any such act or failure to act
undertaken or omitted to be taken by such Underwriter through its gross negligence or willful
misconduct), and shall reimburse the Underwriter Indemnified Party promptly upon demand for any
legal fees or other expenses reasonably incurred by that Underwriter Indemnified Party in
connection with investigating, or preparing to defend, or defending against, or appearing as a
third party witness in respect of, or otherwise incurred in connection with, any such loss, claim,
damage, expense, liability, action, investigation or proceeding, as such fees and expenses are
incurred; provided, however, that the Company shall not be liable in any such case to the extent
that any such loss, claim, damage, expense or liability arises out of or is based upon an untrue
statement or alleged untrue statement in, or omission or alleged omission from any Preliminary
Prospectus, any Registration Statement or the Prospectus, or any such amendment or supplement
thereto, made in reliance upon and in conformity with written information furnished to the Company
by the Representative by or on behalf of any Underwriter specifically for use therein, which
information the parties hereto agree is limited to the Underwriters’ Information (as defined in
Section 11). This indemnity agreement is not exclusive and will be in addition to any liability
which the Company might otherwise have and shall not limit any rights or remedies which may
otherwise be available at law or in equity to each Underwriter Indemnified Party.
(b) Each Underwriter, severally and not jointly, shall indemnify and hold harmless
the Company and its directors, its officers who signed the Registration Statement and each person,
if any, who controls the Company within the meaning of Section 15 of the Act or Section 20 of the
Exchange Act (collectively the “Company Indemnified Parties” and each a “Company
Indemnified Party”) against any loss, claim, damage, expense or liability whatsoever (or any
action, investigation or proceeding in respect thereof), joint or several, to which such Company
Indemnified Party may become subject, under the Act or otherwise, insofar as such loss, claim,
damage, expense, liability, action, investigation or proceeding arises out of or is based upon (i)
any untrue statement or alleged untrue statement of a material fact contained in
22
any Preliminary Prospectus, any Registration Statement or the Prospectus, or in any amendment
or supplement thereto, or (ii) the omission or alleged omission to state in any Preliminary
Prospectus, any Registration Statement or the Prospectus, or in any amendment or supplement
thereto, a material fact required to be stated therein or necessary to make the statements therein
not misleading, but in each case only to the extent that the untrue statement or alleged untrue
statement or omission or alleged omission was made in reliance upon and in conformity with written
information furnished to the Company by the Representative by or on behalf of any Underwriter
specifically for use therein, which information the parties hereto agree is limited to the
Underwriters’ Information (as defined in Section 11), and shall reimburse the Company for any legal
or other expenses reasonably incurred by such party in connection with investigating or preparing
to defend or defending against or appearing as third party witness in connection with any such
loss, claim, damage, liability, action, investigation or proceeding, as such fees and expenses are
incurred. Notwithstanding the provisions of this Section 7(b), in no event shall any indemnity by
a Underwriter under this Section 7(b) exceed the total compensation received by such Underwriter in
accordance with Section 2.
(c) Promptly after receipt by an indemnified party under this Section 7 of notice of
the commencement of any action, the indemnified party shall, if a claim in respect thereof is to be
made against an indemnifying party under this Section 7, notify such indemnifying party in writing
of the commencement of that action; provided, however, that the failure to notify the indemnifying
party shall not relieve it from any liability which it may have under this Section 7 except to the
extent it has been materially prejudiced by such failure; and, provided, further, that the failure
to notify an indemnifying party shall not relieve it from any liability which it may have to an
indemnified party otherwise than under this Section 7. If any such action shall be brought against
an indemnified party, and it shall notify the indemnifying party thereof, the indemnifying party
shall be entitled to participate therein and, to the extent that it wishes, jointly with any other
similarly notified indemnifying party, to assume the defense of such action with counsel reasonably
satisfactory to the indemnified party (which counsel shall not, except with the written consent of
the indemnified party, be counsel to the indemnifying party). After notice from the indemnifying
party to the indemnified party of its election to assume the defense of such action, except as
provided herein, the indemnifying party shall not be liable to the indemnified party under Section
7 for any legal or other expenses subsequently incurred by the indemnified party in connection with
the defense of such action other than reasonable costs of investigation; provided, however, that
any indemnified party shall have the right to employ separate counsel in any such action and to
participate in the defense of such action but the fees and expenses of such counsel (other than
reasonable costs of investigation) shall be at the expense of such indemnified party unless (i) the
employment thereof has been specifically authorized in writing by the Company in the case of a
claim for indemnification under Section 7(a) or the Underwriters in the case of a claim for
indemnification under Section 7(b), (ii) such indemnified party shall have been advised by its
counsel that there may be one or more legal defenses available to it which are different from or
additional to those available to the indemnifying party, or (iii) the indemnifying party has failed
to assume the defense of such action and employ counsel reasonably satisfactory to the indemnified
party within a reasonable period of time after notice of the commencement of the action or the
indemnifying party does not diligently defend the action after assumption of the defense, in which
case, if such indemnified party notifies the indemnifying party in writing that it elects to employ
separate counsel at the expense of the indemnifying party, the indemnifying party shall not have
the right to assume the
23
defense of (or, in the case of a failure to diligently defend the action after assumption of
the defense, to continue to defend) such action on behalf of such indemnified party and the
indemnifying party shall be responsible for legal or other expenses subsequently incurred by such
indemnified party in connection with the defense of such action; provided, however, that the
indemnifying party shall not, in connection with any one such action or separate but substantially
similar or related actions in the same jurisdiction arising out of the same general allegations or
circumstances, be liable for the reasonable fees and expenses of more than one separate firm of
attorneys at any time for all such indemnified parties (in addition to any local counsel), which
firm shall be designated in writing by the Representative if the indemnified parties under this
Section 7 consist of any Underwriter Indemnified Party or by the Company if the indemnified parties
under this Section 7 consist of any Company Indemnified Parties. Subject to this Section 7(c), the
amount payable by an indemnifying party under Section 7 shall include, but not be limited to, (x)
reasonable legal fees and expenses of counsel to the indemnified party and any other expenses in
investigating, or preparing to defend or defending against, or appearing as a third party witness
in respect of, or otherwise incurred in connection with, any action, investigation, proceeding or
claim, and (y) all amounts paid in settlement of any of the foregoing. No indemnifying party
shall, without the prior written consent of the indemnified parties, settle or compromise or
consent to the entry of judgment with respect to any pending or threatened action or any claim
whatsoever, in respect of which indemnification or contribution could be sought under this Section
7 (whether or not the indemnified parties are actual or potential parties thereto), unless such
settlement, compromise or consent (i) includes an unconditional release of each indemnified party
in form and substance reasonably satisfactory to such indemnified party from all liability arising
out of such action or claim and (ii) does not include a statement as to or an admission of fault,
culpability or a failure to act by or on behalf of any indemnified party. Subject to the
provisions of the following sentence, no indemnifying party shall be liable for settlement of any
pending or threatened action or any claim whatsoever that is effected without its written consent
(which consent shall not be unreasonably withheld or delayed), but if settled with its written
consent, if its consent has been unreasonably withheld or delayed or if there be a judgment for the
plaintiff in any such matter, the indemnifying party agrees to indemnify and hold harmless any
indemnified party from and against any loss or liability by reason of such settlement or judgment.
In addition, if at any time an indemnified party shall have requested that an indemnifying party
reimburse the indemnified party for fees and expenses of counsel, such indemnifying party agrees
that it shall be liable for any settlement of the nature contemplated herein effected without its
written consent if (i) such settlement is entered into more than forty-five (45) days after receipt
by such indemnifying party of the request for reimbursement, (ii) such indemnifying party shall
have received notice of the terms of such settlement at least thirty (30) days prior to such
settlement being entered into and (iii) such indemnifying party shall not have reimbursed such
indemnified party in accordance with such request prior to the date of such settlement.
(d) If the indemnification provided for in this Section 7 is unavailable or
insufficient to hold harmless an indemnified party under Section 7(a) or Section 7(b), then each
indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount
paid, payable or otherwise incurred by such indemnified party as a result of such loss, claim,
damage, expense or liability (or any action, investigation or proceeding in respect thereof), as
incurred, (i) in such proportion as shall be appropriate to reflect the relative benefits received
by the Company on the one hand and the Underwriters on the other hand from the
24
offering of the Securities, or (ii) if the allocation provided by clause (i) of this Section
7(d) is not permitted by applicable law, in such proportion as is appropriate to reflect not only
the relative benefits referred to in clause (i) of this Section 7(d) but also the relative fault of
the Company on the one hand and the Underwriters on the other with respect to the statements,
omissions, acts or failures to act which resulted in such loss, claim, damage, expense or liability
(or any action, investigation or proceeding in respect thereof) as well as any other relevant
equitable considerations. The relative benefits received by the Company on the one hand and the
Underwriters on the other with respect to such offering shall be deemed to be in the same
proportion as the total net proceeds from the offering of the Securities purchased under this
Agreement (before deducting expenses) received by the Company bear to the total discounts and
commissions received by the Underwriters in connection with offering, in each case as set forth in
the table on the cover page of the Prospectus (but in the case of the Underwriters, including the
Deferred Discount only to the extent actually received by the Underwriters). The relative fault of
the Company on the one hand and the Underwriters on the other shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information supplied by the
Company on the one hand or the Underwriters on the other, the intent of the parties and their
relative knowledge, access to information and opportunity to correct or prevent such untrue
statement, omission, act or failure to act; provided that the parties hereto agree that the written
information furnished to the Company by the Underwriters for use in the Preliminary Prospectus, any
Registration Statement or the Prospectus, or in any amendment or supplement thereto, consists
solely of the Underwriters’ Information (as defined in Section 11). The Company and the
Underwriters agree that it would not be just and equitable if contributions pursuant to this
Section 7(d) were to be determined by pro rata allocation or by any other method of allocation that
does not take into account the equitable considerations referred to herein. The amount paid or
payable by an indemnified party as a result of the loss, claim, damage, expense, liability, action,
investigation or proceeding referred to above in this Section 7(d) shall be deemed to include, for
purposes of this Section 7(d), any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating, preparing to defend or defending against or appearing as a
third party witness in respect of, or otherwise incurred in connection with, any such loss, claim,
damage, expense, liability, action, investigation or proceeding. Notwithstanding the provisions of
this Section 7(d), no Underwriter shall be required to contribute any amount in excess of the total
compensation received by such Underwriter in accordance with Section 2 less the amount of any
damages which such Underwriter has otherwise paid or become liable to pay by reason of any untrue
or alleged untrue statement, omission or alleged omission, act or alleged act or failure to act or
alleged failure to act. No person guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of
such fraudulent misrepresentation. The Underwriters’ obligations to contribute as provided in
this Section 7(d) are several in proportion to their respective obligations and not joint.
8. Notices.
All communications hereunder shall be in writing and, except as otherwise provided herein,
will be mailed, delivered, telecopied or telegraphed and confirmed as follows: if to the
Underwriters, to Lazard Capital Markets LLC, 00 Xxxxxxxxxxx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000, Attn:
Xxxxxx Xxxxx, General Counsel; if to the Company to, Aldabra 2 Acquisition Corp., c/o Terrapin Partners LLC, 000 Xxxxxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx
Xxxx 00000, Attn: Xxxxx Xxxxx, Chief Executive Officer.
25
9. Termination.
This Agreement may be terminated by you by notice to the Company (a) at any time prior to the
Closing Date or any Option Closing Date (if different from the Closing Date and then only as to
Option Units) if any of the following has occurred: (i) since the respective dates as of which
information is given in the Registration Statement, the General Disclosure Package and the
Prospectus, a Material Adverse Effect shall have occurred, (ii) trading in securities generally on
the New York Stock Exchange, Nasdaq Stock Market or the American Stock Exchange or in the
over-the-counter market, or trading in any securities of the Company on any exchange or in the
over-the-counter market, shall have been suspended or materially limited, or minimum or maximum
prices or maximum range for prices shall have been established on any such exchange or such market
by the Commission, by such exchange or market or by any other regulatory body or governmental
authority having jurisdiction, (iii) a banking moratorium shall have been declared by Federal or
state authorities or a material disruption has occurred in commercial banking or securities
settlement or clearance services in the United States, (iv) the United States shall have become
engaged in hostilities, or the subject of an act of terrorism, or there shall have been an outbreak
of or escalation in hostilities involving the United States, or there shall have been a declaration
of a national emergency or war by the United States or (v) there shall have occurred such a
material adverse change in general economic, political or financial conditions (or the effect of
international conditions on the financial markets in the United States shall be such) as to make
it, in the judgment of the Representative, impracticable or inadvisable to proceed with the sale or
delivery of the Units on the terms and in the manner contemplated in the Preliminary Prospectus and
the Prospectus; or
(b) as provided in Sections 6 and 12 of this Agreement.
10. Successors.
This Agreement has been and is made solely for the benefit of the Underwriters and the Company
and their respective successors, executors, administrators, heirs and assigns, and the officers,
directors and controlling persons referred to herein, and no other person will have any right or
obligation hereunder. No purchaser of any of the Units from any Underwriter shall be deemed a
successor or assign merely because of such purchase.
11. Information Provided by Underwriters.
The Company and the Underwriters acknowledge and agree that the only information furnished or
to be furnished by any Underwriter to the Company for inclusion in the Registration Statement, the
Preliminary Prospectus or the Prospectus consists of the information set forth in the third, ninth
and tenth paragraphs under the caption “Underwriting” in the Prospectus and each Underwriter’s name
as contained on the cover page of the Prospectus (the “Underwriters’ Information”).
26
12. Default by Underwriters.
If on the Closing Date or the Option Closing Date, as the case may be, any Underwriter shall
fail to purchase and pay for the portion of the Units which such Underwriter has agreed to purchase
and pay for on such date (otherwise than by reason of any default on the part of the Company), you,
as Representative of the Underwriters, shall use your reasonable efforts to procure within 36 hours
thereafter one or more of the other Underwriters, or any others, to purchase from the Company such
amounts as may be agreed upon and upon the terms set forth herein, the Units which the defaulting
Underwriter or Underwriters failed to purchase. If during such 36 hours you, as such
Representative, shall not have procured such other Underwriters, or any others, to purchase the
Units agreed to be purchased by the defaulting Underwriter or Underwriters, then (a) if the
aggregate number of Units with respect to which such default shall occur does not exceed 10% of the
Units to be purchased on the Closing Date or the Option Closing Date, as the case may be, the other
Underwriters shall be obligated, severally, in proportion to the respective numbers of Units which
they are obligated to purchase hereunder, to purchase the Units which such defaulting Underwriter
or Underwriters failed to purchase, or (b) if the aggregate number of Units with respect to which
such default shall occur exceeds 10% of the Units to be purchased on the Closing Date or the Option
Closing Date, as the case may be, the Company or you as the Representative of the Underwriters will
have the right, by written notice given within the next 36-hour period to the parties to this
Agreement, to terminate this Agreement without liability on the part of the non-defaulting
Underwriters or of the Company except to the extent provided in Sections 5 and 7 hereof. In the
event of a default by any Underwriter or Underwriters, as set forth in this Section 12, the Closing
Date or Option Closing Date, as the case may be, may be postponed for such period, not exceeding
seven days, as you, as Representative, may determine in order that the required changes in the
Registration Statement, the General Disclosure Package or in the Prospectus or in any other
documents or arrangements may be effected. The term “Underwriter” includes any person substituted
for a defaulting Underwriter. Any action taken under this Section 12 shall not relieve any
defaulting Underwriter from liability in respect of any default of such Underwriter under this
Agreement.
13. Absence of Fiduciary Duty.
The Company acknowledges and agrees that:
(a) the Underwriters’ responsibility to the Company is solely contractual in nature, the
Underwriters have been retained solely to act as underwriters in connection with the offering of
the Securities contemplated herein and no fiduciary, advisory or agency relationship between the
Company and the Underwriters has been created in respect of any of the transactions contemplated by
this Agreement, irrespective of whether the Underwriters or Lazard Frères & Co. LLC has advised or
is advising the Company on other matters;
(b) the price of the Securities set forth in this Agreement was established following
arms-length negotiations and the Company is capable of evaluating and understanding, and
understands and accepts, the terms, risks and conditions of the transactions contemplated by this
Agreement;
(c) it has been advised that the Underwriters and Lazard Frères & Co. LLC and their affiliates
are engaged in a broad range of transactions which may involve interests that differ from those of
the Company and that the Underwriters have no obligation to disclose such interests and transactions to the Company by virtue of any fiduciary, advisory or agency
relationship; and
27
(d) it waives, to the fullest extent permitted by law, any claims it may have against the
Underwriters for breach of fiduciary duty and agrees that the Underwriters shall have no liability
(whether direct or indirect) to the Company in respect of such a fiduciary duty claim or to any
person asserting a fiduciary duty claim on behalf of or in right of the Company, including
stockholders, employees or creditors of the Company.
14. Miscellaneous.
The reimbursement, indemnification and contribution agreements contained in this Agreement and
the representations, warranties and covenants contained in this Agreement shall remain in full
force and effect regardless of (a) any termination of this Agreement, (b) any investigation made by
or on behalf of any Underwriter or controlling person thereof, or by or on behalf of the Company or
its directors or officers and (c) delivery of and payment for the Securities under this Agreement.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.
This Agreement shall be governed by, and construed in accordance with, the law of the State of
New York, including, without limitation, Section 5-1401 of the New York General Obligations Law.
In any proceeding relating to the Registration Statement, the Preliminary Prospectus, the
Prospectus or any supplement or amendment thereto, each party hereby (i) irrevocably submits to the
jurisdiction of the United States District Court sitting in the Southern District of New York and
the courts of the State of New York located in New York county for the purposes of any suit, action
or proceeding arising out of or relating to this Agreement or the transactions contemplated hereby
and (ii) hereby waives, and agrees not to assert in any such suit, action or proceeding, any claim
that it is not personally subject to the jurisdiction of such court, that the suit, action or
proceeding is brought in an inconvenient forum or that the venue of the suit, action or proceeding
is improper. Each party hereto consents to process being served in any such suit, action or
proceeding by mailing a copy thereof to such party at the address in effect for notices to it under
this Agreement and agrees that such service shall constitute good and sufficient service of process
and notice thereof. Nothing contained in this section shall affect or limit any right to serve
process in any other manner permitted by law.
28
If the foregoing letter is in accordance with your understanding of our agreement, please sign
and return to us the enclosed duplicates hereof, whereupon it will become a binding agreement among
the Company and the several Underwriters in accordance with its terms.
Very truly yours, ALDABRA 2 ACQUISITION CORP. |
||||
By | ||||
Name: | ||||
Title: | ||||
The foregoing Underwriting Agreement is hereby confirmed and accepted as of the date first above written. |
||||
LAZARD CAPITAL MARKETS LLC | ||||
As Representative of the several Underwriters listed on Schedule I |
||||
By |
||||
29
SCHEDULE I
Schedule of Underwriters
Number of Firm Units | ||||
Underwriter | to be Purchased | |||
Lazard Capital Markets, LLC |
||||
Pali Capital, Inc. |
||||
Ladenburg Xxxxxxxx & Co. Inc. |
||||
EarlyBirdCapital, Inc. |
||||
Total |
30,000,000 |
30
SCHEDULE II
Trade date: l, 2007
Settlement date: l, 2007
Selling concession: $l per Xxxx
Settlement date: l, 2007
Selling concession: $l per Xxxx
00