Exhibit 4.1


 


RIGHTS AGREEMENT


 


This Rights Agreement (this
 “Agreement”) is made as of October 18, 2021 between Blockchain Moon Acquisition Corp., a Delaware corporation (the “Company”),
and Continental Stock Transfer & Trust Company, a New York corporation 10004 (“Rights Agent”).


 


WHEREAS, the Company is undertaking
a public offering (the “Public Offering”) of 10,000,000 units (up to 11,500,000 units if the underwriters’ over-allotment
option is exercised in full), each unit (“Unit”) comprised of one share of common stock with par value $0.0001 per share of
the Company (“Common Stock”), one right to receive one-tenth of one share of Common Stock, subject to adjustment, upon the
happening of the triggering event described herein (each a “Public Right”), and one warrant to purchase one-half of one share
of Common Stock (the “Warrant”), and in connection therewith, will issue and deliver up to an aggregate of 10,000,000
Rights (or up to 11,500,000 Rights if the underwriters’ over-allotment option is exercised in full) as part of such Units upon consummation
of such private placement (the “Public Offering”); and


 


WHEREAS, simultaneously with
the consummation of the Public Offering, the Company will issue and deliver to Jupiter Sponsor, LLC (the “Sponsor”) up to
an aggregate of 400,000 rights (or up to 430,000 rights if the underwriters’ over-allotment option is exercised in full) underlying
private units (the “Private Rights”);


 


WHEREAS, in connection with
the Public Offering, the Company will issue and deliver up to 550,000 rights (underlying 550,000 unit purchase options) to Chardan Capital
Markets, LLC or its designees (“CCM Rights” and, together with the Public Rights and the Private Rights, the “Rights”);


 


WHEREAS, the Company has filed
with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-259770
(“Registration Statement”), and related Prospectus (“Prospectus”) for the registration, under the Securities Act
of 1933, as amended (“Act”), of, among other securities, the Public Rights and the shares of Common Stock issuable to the
holders of the Public Rights; and


 


WHEREAS, the Company desires
the Rights Agent to act on behalf of the Company, and the Rights Agent is willing to so act, in connection with the issuance, registration,
transfer and exchange of the Rights; and


 


WHEREAS, the Company desires
to provide for the form and provisions of the Rights, the terms upon which they shall be issued, and the respective rights, limitation
of rights, and immunities of the Company, the Rights Agent, and the holders of the Rights; and


 


WHEREAS, all acts and things
have been done and performed which are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on
behalf of the Rights Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution
and delivery of this Agreement.


 


NOW, THEREFORE, in consideration
of the mutual agreements herein contained, the parties hereto agree as follows:


 


1. Appointment of Rights Agent. The
Company hereby appoints the Rights Agent to act as agent for the Company for the Rights, and the Rights Agent hereby accepts such appointment
and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.


 


2. Rights.


 


2.1. Form of
Right. Each Right shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the
provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board or
Chief Executive Officer and the Secretary of the Company and shall bear a facsimile of the Company’s seal. In the event the
person whose facsimile signature has been placed upon any Right shall have ceased to serve in the capacity in which such person
signed the Right before such Right is issued, it may be issued with the same effect as if he or she had not ceased to be such at the
date of issuance.


 






     


     


    

 


2.2. Effect of Countersignature.
Unless and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may not be
exchanged for shares of Common Stock.


 


2.3. Registration.


 


2.3.1. Right Register.
The Rights Agent shall maintain books (“Right Register”) for the registration of original issuance and the registration of
transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the Rights in the names of
the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Rights Agent by the
Company.


 


2.3.2. Registered Holder.
Prior to due presentment for registration of transfer of any Right, the Company and the Rights Agent may deem and treat the person in
whose name such Right shall be registered upon the Right Register (“registered holder”) as the absolute owner of such Right
and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right Certificate made by anyone
other than the Company or the Rights Agent), for the purpose of the exchange thereof, and for all other purposes, and neither the Company
nor the Rights Agent shall be affected by any notice to the contrary.


 


2.4. Detachability
of Rights. The securities comprising the Units, including the Public Rights, will not be separately transferable until the earlier
to occur of: (i) the 90th day following the date of the Prospectus or (ii) the announcement by Chardan Capital Markets,
LLC , as representative of the underwriters in the Public Offering (the “Representative”), of its intention to allow separate
earlier trading, except that in no event will the securities comprising the Units be separately tradeable until the Company files a Current
Report on Form 8-K with the SEC which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds
of the Public Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment
option is exercised by the date thereof and the Company issues a press release and files a Current Report on Form 8-K with the SEC
announcing when such separate trading shall begin.


 


3. Terms and Exchange of Rights


 


3.1. Rights. Each
Right shall entitle the holder thereof to receive one-tenth (1/10) of one share of Common Stock upon the happening of an Exchange Event
(defined below). No additional consideration shall be paid by a holder of a Right in order to receive his, her or its shares of Common
Stock upon an Exchange Event as the purchase price for such Common Stock has been included in the purchase price for the Units.


 


3.2. Exchange Event.
An “Exchange Event” shall occur upon the Company’s consummation of an initial Business Combination (as defined in the
Company’s Amended and Restated Certificate of Incorporation).


 


3.3. Exchange of Rights.


 


3.3.1. Issuance of
Common Stock. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights to
return their Rights Certificates to the Rights Agent. Upon receipt of a valid Rights Certificate, the Rights Agent shall issue to
the registered holder of such Right(s) the number of full shares of Common Stock to which he, she or it is entitled, registered
in such name or names as may be directed by him, her or it and issue to such registered holder(s) a certificate or book-entry
position for the such shares. Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no
event will the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of
Rights. In the event that any holder would otherwise be entitled to any fractional share upon exchange of Rights, at the time of an
Exchange Event, the Company will instruct the Right Agent how any such entitlement will be addressed. To the fullest extent
permitted by the Company’s Amended and Restated Certificate of Incorporation the Company reserves the right to deal with any
such fractional entitlement at the relevant time in any manner permitted by the Act and the Amended and Restated Certificate of
Incorporation, which may include the rounding down of any entitlement to receive shares of Common Stock to the nearest whole share
(and in effect extinguishing any fractional entitlement), or the holder being entitled to hold any remaining fractional entitlement
(without any share being issued) and to aggregate the same with any future fractional entitlement to receive shares in the Company
until the holder is entitled to receive a whole number. Any rounding down and extinguishment may be done with or without any in lieu
cash payment or other compensation being made to the holder of the relevant Rights, such that value received on exchange of the
Rights may be considered less than the value that the holder would otherwise expect to receive.


 






    2


     


    

 


3.3.2. Valid Issuance.
All shares of Common Stock issued upon an Exchange Event in conformity with this Agreement and the Amended and Restated Certificate of
Incorporation of the Company shall be validly issued, fully paid and nonassessable.


 


3.3.3. Date of Issuance.
Each person in whose name any such certificate or book-entry position for shares of Common Stock is issued shall for all purposes be deemed
to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery of such certificate
or entry of position.


 


3.3.4 Company Not Surviving
Following Exchange Event. Upon an Exchange Event in which the Company does not continue as the publicly held reporting entity, the
definitive agreement will provide for the holders of Rights to receive the same per share consideration the holders of the Common Stock
will receive in such transaction, for the number of shares such holder is entitled to pursuant to Section 3.3.1 above. If the Company
does not continue as the publicly held reporting entity upon an Exchange Event, each holder of a Right will be required to affirmatively
convert his/her or its Rights in order to receive the 1/10 of a share of Common Stock underlying each right (without paying any additional
consideration) upon consummation of the Exchange Event. In such a case, each holder of a Right will be required to indicate his, her or
its election to convert the Rights into underlying shares as well as to return the original certificates evidencing the Rights to the
Company.


 


3.5 Duration of Rights.
If an Exchange Event does not occur within the time period set forth in the Company’s Amended and Restated Certificate of Incorporation,
as the same may be amended from time to time, the Rights shall expire and shall be worthless.


 


4. Transfer and Exchange of Rights.


 


4.1. Registration
of Transfer. The Rights Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon
surrender of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions
for transfer. Upon any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old Right shall
be cancelled by the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the Company from time to time upon
request.


 


4.2. Procedure for
Surrender of Rights. Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer, and
thereupon the Rights Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights
so surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for transfer
bears a restrictive legend and the new Rights to be issued will not bear a restrictive legend, the Rights Agent shall not cancel such
Right and issue new Rights in exchange therefor until the Rights Agent has received an opinion of counsel for the Company stating that
such transfer may be made and indicating no restrictive legend is required.


 


4.3. Fractional Rights.
The Rights Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a Right
Certificate for a fraction of a Right.


 


4.4. Service Charges.
No service charge shall be made for any exchange or registration of transfer of Rights.


 


4.5. Right Execution
and Countersignature. The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement,
the Rights required to be issued pursuant to the provisions of this Section 4, and the Company, whenever required by the Rights Agent,
will supply the Rights Agent with Rights duly executed on behalf of the Company for such purpose.


 






    3


     


    

 


5. Other Provisions Relating to Rights
of Holders of Rights.


 


5.1. No Rights as
Stockholder. Until exchange of a Right for shares of Common Stock as provided for herein, a Right does not entitle the registered
holder thereof to any of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or
other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the meetings
of stockholders or the election of directors of the Company or any other matter.


 


5.2. Lost, Stolen,
Mutilated, or Destroyed Rights. If any Right Certificate is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent
may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right Certificate,
include the surrender thereof), issue a new Right Certificate of like denomination, tenor, and date as the Right Certificate so lost,
stolen, mutilated, or destroyed. Any such new Right Certificate shall constitute a substitute contractual obligation of the Company, whether
or not the allegedly lost, stolen, mutilated, or destroyed Right Certificate shall be at any time enforceable by anyone.


 


5.3. Reservation of
Shares of Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of
Common Stock that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.


 


6. Concerning the Rights Agent and Other
Matters.


 


6.1. Payment of Taxes.
The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Rights Agent in respect
of the issuance or delivery of shares of Common Stock upon the exchange of Rights, but the Company shall not be obligated to pay any transfer
taxes in respect of the Rights or such Common Stock.


 


6.2. Resignation,
Consolidation, or Merger of Rights Agent.


 


6.2.1. Appointment of
Successor Rights Agent. The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from
all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office of the
Rights Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Rights
Agent in place of the Rights Agent. If the Company shall fail to make such appointment within a period of 30 days after it has been notified
in writing of such resignation or incapacity by the Rights Agent or by the holder of the Right (who shall, with such notice, submit his,
her or its Right for inspection by the Company), then the holder of any Right may apply to the Supreme Court of the State of New York
for the County of New York for the appointment of a successor Rights Agent at the Company’s cost. Any successor Rights Agent, whether
appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good
standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise
corporate trust powers and subject to supervision or examination by federal or state authority. After appointment, any successor Rights
Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Rights Agent with
like effect as if originally named as Rights Agent hereunder, without any further act or deed; but if for any reason it becomes necessary
or appropriate, the predecessor Rights Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such
successor Rights Agent all the authority, powers, and rights of such predecessor Rights Agent hereunder; and upon request of any successor
Rights Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually
vesting in and confirming to such successor Rights Agent all such authority, powers, rights, immunities, duties, and obligations.


 


6.2.2. Notice of Successor
Rights Agent. In the event a successor Rights Agent shall be appointed, the Company shall give notice thereof to the predecessor Rights
Agent and the transfer agent for the Common Stock not later than the effective date of any such appointment.


 


6.2.3. Merger or Consolidation
of Rights Agent. Any corporation into which the Rights Agent may be merged or with which it may be consolidated or any corporation
resulting from any merger or consolidation to which the Rights Agent shall be a party shall be the successor Rights Agent under this Agreement
without any further act.


 






    4


     


    

 


6.3. Fees and Expenses
of Rights Agent.


 


6.3.1. Remuneration.
The Company agrees to pay the Rights Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse
the Rights Agent upon demand for all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.


 


6.3.2. Further Assurances.
The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such
further and other acts, instruments, and assurances as may reasonably be required by the Rights Agent for the carrying out or performing
of the provisions of this Agreement.


 


6.4. Liability of
Rights Agent.


 


6.4.1. Reliance on Company
Statement. Whenever in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary or desirable that
any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless
other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement
signed by the Chief Executive Officer or Chief Financial Officer and delivered to the Rights Agent. The Rights Agent may rely upon such
statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.


 


6.4.2. Indemnity.
The Rights Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section 6.6
below, the Company agrees to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments, costs
and reasonable counsel fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except as a result of
the Rights Agent’s gross negligence, willful misconduct, or bad faith.


 


6.4.3. Exclusions.
The Rights Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition
contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation or warranty as to
the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Right or as to whether any
shares of Common Stock will when issued be valid and fully paid and nonassessable.


 


6.5. Acceptance of
Agency. The Rights Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and
conditions herein set forth.


 


6.6 Waiver. The
Rights Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or
to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof,
by and between the Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment
or satisfaction for any Claim against the Trust Account for any reason whatsoever.


 


7. Miscellaneous Provisions.


 


7.1. Successors.
All the covenants and provisions of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the
benefit of their respective successors and assigns.


 


7.2. Notices.
Any notice, statement or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right to
or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private
courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by
the Company with the Rights Agent), as follows:


 






    5


     


    

 


Blockchain Moon Acquisition Corp.


4651 Salisbury Road, Suite 400,


Jacksonville FL, 32256


Attn: Enzo A. Villani, Chairman and Chief Executive Officer


 


Any notice, statement or demand authorized by
this Agreement to be given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently given
when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit
of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company), as follows:


 


Continental Stock Transfer &
Trust Company


One State Street, 30th Floor


New York, New York 10004


Attn: Compliance Department


 


with a copy to:


 


Chardan Capital Markets, LLC


17 State Street #2100


New York, NY 10004


Attn: George Kaufman


 


And to:


 


Loeb & Loeb LLP


345 Park Avenue


New York, New York 10154


Attn: Mitchell S. Nussbaum, Esq. and Giovanni Caruso, Esq.


Email: gcaruso@loeb.com


 


7.3. Applicable Law.
If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court located
within the State of New York or the United States District Court for the Southern District of New York (a “foreign action”)
in the name of any right holder, such right holder shall be deemed to have consented to: (x) the personal jurisdiction of the state
and federal courts located within the State of New York or the United States District Court for the Southern District of New York in connection
with any action brought in any such court to enforce the forum provisions (an “enforcement action”), and (y) having service
of process made upon such right holder in any such enforcement action by service upon such right holder’s counsel in the foreign
action as agent for such right holder.


 


7.4. Persons Having
Rights under this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof
is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the registered
holders of the Rights and, for the purposes of Sections 7.4 and 7.8 hereof, the Representative, any right, remedy, or claim under or by
reason of this Agreement or of any covenant, condition, stipulation, promise, or agreement hereof. The Representative shall be deemed
to be a third-party beneficiary of this Agreement with respect to Sections 7.4 and 7.8 hereof. All covenants, conditions, stipulations,
promises, and agreements contained in this Agreement shall be for the sole and exclusive benefit of the parties hereto (and the Representative
with respect to the Sections 7.4 and 7.8 hereof) and their successors and assigns and of the registered holders of the Rights. The provisions
of this Section 7.4 may not be modified, amended or deleted without the prior written consent of the Representative.


 






    6


     


    

 


7.5. Examination of
the Right Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the
Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Right. The Rights Agent may require any
such holder to submit his, her or its Right for inspection by it.


 


7.6. Counterparts.
This Agreement may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes
be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.


 


7.7. Effect of Headings.
The Section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.


  


7.8 Amendments.
This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity,
or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect
to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not
adversely affect the interest of the registered holders. All other modifications or amendments shall require the written consent or vote
of the registered holders of a majority of the then outstanding Rights. The provisions of this Section 7.8 may not be modified, amended
or deleted without the prior written consent of the Representative.


 


7.9 Severability.
This Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the
validity or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms to
such invalid or unenforceable provision as may be possible and be valid and enforceable.


 


[Signature Page Follows]


 






    7


     


    

 


                IN
WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.


 


	BLOCKCHAIN MOON ACQUISITION CORP.




 


	By:	  /s/ Enzo A. Villani	 
	Name: Enzo A. Villani	 
	Title: Chairman and Chief Executive Officer	 



 


	CONTINENTAL STOCK TRANSFER & TRUST COMPANY




 


	By:	  /s/ Erika Young	 
	Name:  Erika Young	 
	Title: Vice President	 


 


[Signature Page to Rights Agreement]


 






    8