THIS WARRANT AGREEMENT (this Agreement), dated as of [_____], 2021, is by and between Investcorp Acquisition Corp., a Cayman Islands exempted company (the Company), and Continental Stock Transfer & Trust Company, a New York corporation, as warrant agent (in such capacity, the Warrant Agent, and also referred to herein as the Transfer Agent).
WHEREAS, the Company is engaged in an initial public offering (the Offering) of units of the Companys equity securities, each such unit comprised of one Class A ordinary share of the Company, par value $0.0001 per share (Ordinary Shares), and one-half of one redeemable Public Warrant (as defined below) (the Units) and, in connection therewith, has determined to issue and deliver up to 7,500,000 warrants (or up to 8,250,000 warrants if the Over-allotment Option (as defined below) is exercised in full) to public investors in the Offering (the Public Warrants);
WHEREAS, the Company has filed with the U.S. Securities and Exchange Commission (the Commission) a registration statement on Form S-1, File No. 333- (the Registration Statement), and prospectus (the Prospectus), for the registration, under the Securities Act of 1933, as amended (the Securities Act), of the Units, the Public Warrants and the Ordinary Shares included in the Units;
WHEREAS, the Company has entered into that certain Private Placement Warrants Purchase Agreement (the Private Placement Warrants Purchase Agreement) with ICE I Holdings Pte. Ltd., a Singapore corporation (the Sponsor), pursuant to which the Sponsor agreed to purchase an aggregate of 8,640,000 warrants (or up to 9,540,000 warrants if the Over-allotment Option is exercised in full) simultaneously with the closing of the Offering (and the closing of the Over-allotment Option, if applicable) bearing the legend set forth in Exhibit B hereto (the Private Placement Warrants) at a purchase price of $1.00 per Private Placement Warrant;
WHEREAS, in order to finance the Companys transaction costs in connection with an intended initial Business Combination (as defined below), the Sponsor or an affiliate of the Sponsor or the Companys officers and directors may, but are not obligated to, loan to the Company funds as the Company may require, of which up to $1,500,000 of such loans may be convertible into up to an additional 1,500,000 warrants at a price of $1.00 per warrant (the Working Capital Warrants);
WHEREAS, following the consummation of the Offering, the Company may issue additional warrants (the Post-IPO Warrants and, together with the Public Warrants, the Private Placement Warrants and the Working Capital Warrants, the Warrants) in connection with, or following the consummation by the Company of, a Business Combination;
WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants;
WHEREAS, the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and