Exhibit 4.1


 


SPECIMEN UNIT CERTIFICATE


 


NUMBER UNITS U-[__]


 


Frazier Lifesciences Acquisition Corporation


 


	SEE REVERSE FOR
	CERTAIN
	DEFINITIONS	CUSIP – G3710A 121




 


UNITS CONSISTING OF ONE CLASS A
ORDINARY SHARE AND ONE-THIRD OF ONE REDEEMABLE WARRANT TO PURCHASE ONE CLASS A ORDINARY SHARE


 


THIS CERTIFIES THAT                     
is the owner of          Units.


 


Each Unit (“Unit”) consists
of one (1) Class A ordinary share, par value $0.0001 per share (“Ordinary Shares”), of Frazier Lifesciences
Acquisition Corporation, a Cayman Islands exempted company (the “Company”), and one-third (1/3) of one redeemable warrant
(each whole warrant, a “Warrant”). Each Warrant entitles the holder to purchase one (1) Ordinary Share for $11.50
per 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, share exchange, asset acquisition, share purchase, reorganization or other similar business combination
with one or more businesses (each, a “Business Combination”), and (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 Ordinary Shares and Warrants comprising the Units represented by this certificate
are not transferable separately prior to [_____], 2020, unless Credit Suisse Securities (USA) LLC elects to allow earlier separate
trading, subject to the Company’s filing with the Securities and Exchange Commission of a Current Report on Form 8-K
containing an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the initial public offering
and issuing a press release announcing when separate trading will begin. No fractional warrants will be issued upon separation
of the Units and only whole warrants are exercisable. The terms of the Warrants are governed by a Warrant Agreement, dated as of
[_____], 2020, between the Company and Continental Stock Transfer & Trust Company, 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.


 


Copies of the Warrant Agreement are on
file at the office of the Warrant Agent at 1 State Street, 30th Floor, New York, New York 10004, and are available to any Warrant
holder on written request and without cost.


 


Upon the consummation
of the Business Combination, the Units represented by this certificate will automatically separate into the Class A Ordinary
Shares and Warrants comprising such Units.


 


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


 


This certificate shall be governed by and
construed in accordance with the internal laws of the State of New York.


 


Witness the facsimile signatures of its
duly authorized officers.


 


 


	By:	 	 	 
	 	Chief Executive Officer	 	 Chief Operating Officer



 



     


     


    




 


Frazier Lifesciences Acquisition Corporation


 


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 shares 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)
	 	 	 	 	 	 
	JT TEN	—	as joint tenants with right 

of survivorship and not as 

tenants in common	 	 	under Uniform Gifts to Minors

 Act
	 	 	 	 	 	 
	 	 	 	 	 	(State)


 


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


 



     


     


    




 


For value received,                       
hereby sells, assigns and transfers 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 does hereby irrevocably constitute and appoint          Attorney
to transfer the said Units on the books of the within named Company 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 OR ANY SUCCESSOR RULES).	 


 


In each case, as more fully described in
the Company’s final prospectus dated          , 2020,          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 the Company’s initial public offering only (i) in the event of the redemption of the Company’s Ordinary Shares
sold in its initial public offering if the Company does not consummate an initial business combination within the period of time
set forth in the Company’s amended and restated memorandum and articles of association, as the same may be amended from time
to time, (ii) in connection with a shareholder vote to amend the Company’s amended and restated memorandum and articles
of association (A) to modify the substance or timing of the Company’s obligation to provide holders of the Ordinary
Shares the right to have their shares redeemed in connection with the Company’s initial business combination or to redeem
100% of the Ordinary Shares if the Company does not complete its initial business combination within the time period set forth
therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares, and (iii) if
the holder(s) seek(s) to redeem for cash his, her, its or their respective Ordinary Shares in connection with a tender
offer (or proxy solicitation, solely in the event the Company seeks shareholder approval of the proposed initial business combination)
setting forth the details of a proposed initial business combination. In no other circumstances shall the holder(s) have any
right or interest of any kind to or in the trust account.