Exhibit 4.1


 


NUMBER U-


SEE REVERSE FOR CERTAIN DEFINITIONS


CUSIP 04208V 202


ARMADA
ACQUISITION CORP. I 


UNITS CONSISTING OF ONE SHARE OF COMMON
STOCK AND ONE-HALF OF ONE REDEEMABLE WARRANT, EACH WHOLE WARRANT ENTITLING THE HOLDER 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 Armada Acquisition Corp. I, a Delaware
corporation (the “Company”), and one-half of one (1/2) redeemable warrant (“Warrant”). Each whole
Warrant entitles the holder to purchase one share of Common Stock for $11.50 per share (subject to adjustment). Each Warrant will become
exercisable 30 days after the Company’s completion of an initial merger, capital stock exchange, asset acquisition, or other similar
business combination with one or more businesses or entities (a “Business Combination”) and will expire unless exercised
before 5:00 p.m., New York City Time, on the fifth anniversary of the completion of an initial Business Combination, or earlier upon redemption
or liquidation. The Common Stock and Warrant(s) comprising the Unit(s) represented by this certificate are not transferable separately
until ninety days following the Company’s initial public offering (the “IPO”), unless  Northland Capital Markets inform the Company of its decision to allow earlier separate trading, except that in no event will the Common
Stock and Warrants be separately tradeable until the Company has filed an audited balance sheet reflecting the Company’s receipt
of the gross proceeds of its initial public offering and issued a press release announcing when such separate trading will begin. The
terms of the Warrants are governed by a Warrant Agreement, dated as of ___________, 2021, 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.


This certificate is not valid unless countersigned
by the Transfer Agent and Registrar of the Company. Witness the facsimile seal of the Company and the facsimile signatures of its duly
authorized officers.


	By:	 	 
	
    

    President
	 	
    

    Secretary



 




    	 



    	 



    

 


Armada Acquisition Corp. I


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)
	 	 	 	 	 	 	 	 	 
	JT TEN	–	as joint tenants 	 	 	 	under Uniform Gifts to Minors Act








	 	 	with right of survivorship and not as tenants in common	 	 	 	 	(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)
	 
	 
	 
	 






 


                              
represented by the within Certificate, and do hereby irrevocably constitute and appoint                     
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 RULE).	 
	 	 






 


 






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The holder(s) of this certificate shall be entitled
to receive a pro-rata portion of the funds from the trust account with respect to the common stock underlying this certificate only in
the event that (i) the Company is forced to liquidate because it does not consummate an initial business combination within the period
of time set forth in the Company’s Second Amended and Restated Certificate of Incorporation, as the same may be amended from time
to time (the “Charter”) (such date being referred to herein as the “Last Date”), (ii) the Company
redeems the shares of common stock sold in its initial public offering in connection with a stockholder vote to amend the Charter (A)
to modify the substance or timing of the Company’s obligation to redeem 100% of the common stock sold in its initial public offering,
if it does not consummate an initial business combination by the Last Date or (B) with respect to any other provision relating to stockholders’
rights or pre-initial business combination activity, or (iii) if the holder seeks to redeem his shares upon consummation of, or sell his
shares in a tender offer in connection with, an initial business combination or in connection with certain amendments to the Charter.
In no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.


 






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