Exhibit 4.2


 


SPECIMEN CLASS A ORDINARY SHARE CERTIFICATE


 


	NUMBER	SHARES



 


PEGASUS DIGITAL MOBILITY ACQUISITION CORP. 


INCORPORATED UNDER THE LAWS OF THE CAYMAN ISLANDS 


CLASS A ORDINARY SHARES


 


SEE REVERSE FOR


CERTAIN DEFINITIONS


 


CUSIP []


 


This Certifies that                                         is
the owner of


 


FULLY PAID AND NON-ASSESSABLE CLASS A
ORDINARY SHARES OF THE PAR VALUE OF


US$0.0001 EACH OF PEGASUS DIGITAL MOBILITY ACQUISITION
CORP. (THE “COMPANY”)


 


subject to the Company’s amended and restated
memorandum and articles of association, as the same may be amended from time to time, and transferable on the books of the Company in
person or by duly authorized attorney upon surrender of this certificate properly endorsed.


 


The Company will be forced to redeem all of
its Class A ordinary shares if it is unable to complete a business combination within the period set forth in the Company’s
amended and restated memorandum and articles of association, as the same may be amended from time to time, all as more fully described
in the Company’s final prospectus dated [•], 2021.


 


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


 


Witness the facsimile signatures of its duly
authorized officer.


 


		Dated:	 	 



 


Chief Executive Officer


 






     


     


    










 


PEGASUS DIGITAL MOBILITY ACQUISITION CORP.


 


The Company will furnish without charge to each shareholder who so
requests 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. This certificate
and the shares represented thereby are issued and shall be held subject to all the provisions of the Company’s amended and restated
memorandum and articles of association, as the same may be amended from time to time, and resolutions of the Board of Directors providing
for the issue of Class A ordinary shares (copies of which may be obtained from the secretary of the Company), to all of which the
holder of this certificate by acceptance hereof assents. 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	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(Cust)	 	(Minor)
	 	 	 	 	 	 	 
	TEN ENT	—	as tenants by the entireties	 	 	 	under Uniform Gifts to Minors Act
	 	 	 	 	 	 	 
	 	 	 	 	 	 	(State)
	JT TEN	—	as joint tenants with right of survivorship and not as tenants in common	 	 	 	 	 	 


 


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(S) OF ASSIGNEE(S))


 


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


 


Shares represented by the within Certificate, and
does hereby irrevocably constitute and appoint                 
Attorney to transfer the said shares on the books of the within named Company with full power of substitution in the premises.


 


		Dated	 	 



 


	 	Shareholder
	 	 
	 	NOTICE: THE SIGNATURE(S) 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:


 


	By:	 	 
	 	 	 
	 	 	 
	 	 	 



 


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 RULE).


 


In
each case, as more fully described in the Company’s final prospectus dated [·],
2021, 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 (i) the Company redeems the Class A ordinary
shares sold in its initial public offering and liquidates because it 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) the Company redeems the Class A ordinary shares sold in its initial public offering in connection with a
shareholder vote to amend the Company’s amended and restated memorandum and articles of association (A) that would modify the
substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem
100% of the public shares if the Company has not consummated an initial Business Combination within the period of time set forth in the
Company’s amended and restated memorandum and articles of association or (B) with respect to any other provisions relating
to shareholders’ rights or pre-initial Business Combination activity, or (iii) if the holder(s) seek(s) to redeem
for cash his, her or its respective Class A 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 in or to the trust account.