Exhibit 4.1


 


NUMBER
UNITS


U-[●]


 


SEE
REVERSE FOR CERTAIN


DEFINITIONS


 


CUSIP
48242A 203


 


KBL
MERGER CORP. IV


 


UNITS
CONSISTING OF ONE SHARE OF COMMON STOCK AND ONE WARRANT TO


PURCHASE
ONE SHARE OF COMMON STOCK


 


THIS
CERTIFIES THAT                                         is
the owner of                     Units.


 


Each Unit (“Unit”) consists of one
(1) share of common stock, par value $0.0001 per share (“Common Stock”), of KBL Merger Corp. IV,
a Delaware corporation (the “Company”), one warrant (the “Warrant”)
and one right to receive one-tenth (1/10) of one share of Common Stock (the “Right”). Each Warrant entitles
the holder to purchase one-half of one share (subject to adjustment) of Common Stock for $5.75 per half share ($11.50 per whole
share) (subject to adjustment). Each Warrant will become exercisable on the later of (i) thirty (30) days after
the Company’s completion of a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other
similar business combination with one or more businesses or entities (each a “Business Combination”),
or (ii) twelve (12) months from the closing of the Company’s initial public offering, and will expire unless exercised
before 5:00 p.m., New York City Time, on the date that is five (5) years after the date on which the Company completes its
initial Business Combination, or earlier upon redemption or liquidation (the “Expiration Date”). The
Common Stock, Warrants and Rights comprising the Units represented by this certificate are not transferable separately prior to
[_______], 2017, unless Ladenburg Thalmann & Co. Inc. elects to allow separate trading earlier, subject to the Company’s
filing of a Current Report on Form 8-K with the Securities and Exchange Commission containing an audited balance sheet reflecting
the Company’s receipt of the gross proceeds of the offering and issuing a press release announcing when separate trading
will begin. The terms of the Warrants are governed by a Warrant Agreement, dated as of [_________], 2017, between the Company
and Continental Stock Transfer & Trust Company (“Continental”), as Warrant Agent, and
are subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents
to by acceptance hereof. The terms of the Rights are governed by a Rights Agreement, dated as of [_________], 2017, between
the Company and Continental, as Rights Agent, and are subject to the terms and provisions contained therein, all of which terms
and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement and Rights
Agreement are on file at the office of the Warrant Agent and Rights Agent at 17 Battery Place, New York, New York 10004,
and are available to any Warrant and Rights holder on written request and without cost.




 


This
certificate is not valid unless countersigned by the Transfer Agent and Registrar of the Company.


 


Witness
the facsimile signature of its duly authorized officers.


 


	 	 	 
	Secretary	 	President


 




     


     


    

 


KBL
MERGER CORP. IV


 


The
Company will furnish without charge to each unitholder who so requests, a statement of the powers, designations, preferences and
relative, participating, optional or other special rights of each class of stock or series thereof of the Company and the qualifications,
limitations, or restrictions of such preferences and/or rights.


 


The
following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were
written out in full according to applicable laws or regulations:


 


	TEN COM	 	 	—	 	 	as
    tenants in common	 	UNIF
    GIFT MIN ACT	 	—	 	                 Custodian
	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 

	 	 
	TEN ENT	 	 	—	 	 	as
    tenants by the entireties	 	 	 	 	 	(Cust)
	 	 	 	 	 	 	 	 	 	 	 	 	(Minor)
	 	 	 	 	 	 	 	 	 	 	 	 	Under
    Uniform Gifts to Minors
	 	 	 	 	 	 
	JT
    TEN	 	 	—	 	 	as
        joint tenants with right of survivorship and not as tenants in common

         
	 	 	 	 	 	Act                     

        (State)



 


Additional
abbreviations may also be used though not in the above list.


 


For
value received,              hereby sell, assign
and transfer unto                 


 


PLEASE
INSERT SOCIAL SECURITY OR


OTHER


IDENTIFYING
NUMBER OF ASSIGNEE


 


(PLEASE
PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)


 


                         
               Units represented by the within
Certificate, and do hereby irrevocably constitute and appoint


 


                        
                                         
    Attorney to transfer the said Units on the books of the within named Corporation with full power
of substitution in the premises.


 


Dated                     


 


	 
	Notice:  The
    signature to this assignment must correspond with the name as written upon the face of the certificate in every particular,
    without alteration or enlargement or any change whatever.


 




     


     


    

 





	Signature(s) Guaranteed:	 	 
	 	 	 




 


THE
SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT
UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).


 


In
each case, as more fully described in the Company’s final prospectus dated [___________], 2017, the holder(s) of this certificate
shall be entitled to receive a pro-rata portion of certain funds held in the trust account established in connection with its
initial public offering only in the event that the Company redeems the shares of common stock underlying this certificate and
liquidates because it does not consummate an initial business combination by the date set forth in the Company’s Amended
and Restated Certificate of Incorporation, as the same may be amended from time to time, or if the holder(s) seek(s) to redeem
for cash his, her or its respective shares of common stock underlying this certificate in connection with a tender offer (or proxy
solicitation, solely in the event the Corporation seeks stockholder approval of the proposed initial business combination) setting
forth the details of a proposed initial business combination or in connection with certain amendments to the Company’s Amended
and Restated Certificate of Incorporation. In no other circumstances shall the holder(s) have any right or interest of any kind
in or to the trust account.