SPECIMEN UNIT CERTIFICATE


 


	     NUMBER	UNITS
	U- ___________	 


 


SEE REVERSE FOR CERTAIN DEFINITIONS


 


	 	AQUASITION CORP.	CUSIP ___________


 


UNITS CONSISTING OF ONE (1) SHARE OF COMMON
STOCK AND


ONE (1) REDEEMABLE WARRANT TO PURCHASE ONE
(1) 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 AQUASITION CORP., a Marshall Islands
company (the “Company”), and one (1) redeemable warrant (the “Warrant”). Each Warrant entitles the holder
to purchase one (1) share of Common Stock for $11.50 per share (subject to adjustment).  Each Warrant will become exercisable
on the later of (i) the consummation of an Acquisition Transaction, and (ii) ____________, 2013, and will expire unless exercised
before 5:00 p.m., New York City Time, on ____________, 2017, or the date of the Company's dissolution and winding up of the Company,
or earlier upon redemption (the “Expiration Date”). The Common Stock and Warrants comprising the Units represented
by this certificate will begin separate trading 90 days after the date of the prospectus covering these securities (the “Prospectus”)
or the announcement by the underwriters of the Company’s initial public offering of the decision to allow earlier trading;
provided, however, in no event will the representative allow separate trading of the Common Stock and Warrants until the Company
files an audited balance sheet with the Securities and Exchange Commission reflecting the Company’s receipt of the gross
proceeds of the offering and issues a press release announcing when such separate trading will begin.  The terms of
the Warrants are governed by a Warrant Agreement, dated as of _______, 2012, between the Company and American 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 American Stock Transfer & Trust Company, 6201 15th Avenue, Brooklyn, NY 11219, and
are available to any Warrant holder on written request and without cost. This certificate is not valid unless countersigned by
the Transfer Agent and Registrar of the Company. This Unit shall be governed and construed in accordance with the internal laws
of the State of New York, without regard to conflicts of laws principles thereof.


 


Witness the facsimile seal of the Company and the facsimile
signature of its duly authorized officers.


 


	  By  	 	 	 
	 	Chief Executive Officer	 	Secretary


 


AQUASITION CORP.


CORPORATE


SEAL


2012


REPUBLIC OF THE MARSHALL ISLANDS


 



    	 



    	 



    

 


AQUASITION CORP.


 


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


TEN ENT  -  as tenants by the
entireties


JT TEN  -  as joint tenants with
right of survivorship


and not as tenants in common


 





	UNIF GIFT MIN ACT -	 	Custodian	 
	 	(Cust)	 	(Minor)
	 	under Uniform Gifts to Minors
	 	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
Company will 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).


 


The holder of this certificate shall be entitled to receive
funds from the trust account only in accordance with the terms of the Investment Management Trust Agreement, dated as of [_______],
2012, by and between the Company and American Stock Transfer and Trust Company, entered into in connection with the Company’s
initial public offering.  In no other circumstances shall the holder have any right or interest of any kind in or to
the trust account.