A SPAC must only allot, issue or grant Promoter Shares or Promoter Warrants to a SPAC Promoter.
Note:   A SPAC may allot, issue or grant these securities to a limited partnership, trust, private company or other vehicle to hold on behalf of a SPAC Promoter provided that such an arrangement does not result in a transfer of beneficial ownership of the securities to a person other than the SPAC Promoter.