Exhibit 4.1


 


NUMBER UNITS


U-[●]


 


SEE REVERSE FOR CERTAIN


DEFINITIONS


 


CUSIP 45074Q 207


 


I-AM CAPITAL ACQUISITION COMPANY


 


UNITS CONSISTING OF ONE SHARE OF COMMON STOCK
AND ONE WARRANT 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 I-AM Capital Acquisition Company, a
Delaware corporation (the “Company”), and one warrant (the “Warrant”).
Each Warrant entitles the holder to purchase one share (subject to adjustment) of Common Stock 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, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination
with one or more businesses or entities (each a “Business Combination”), or (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 Common Stock and Warrants
comprising the Units represented by this certificate are not transferable separately prior to [_______], 2017, unless Maxim Group
LLC elects to allow separate trading earlier, subject to the Company’s filing of a Current Report on Form 8-K with the Securities
and Exchange Commission containing an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the
offering and issuing a press release announcing when separate trading will begin. The terms of the Warrants are governed by
a Warrant Agreement, dated as of [_________], 2017, 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 Plaza, 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 signature of its duly
authorized officers.


 


	 	 	 
	Secretary	 	President


 




    	 	 	 



     


    

 


I-AM CAPITAL ACQUISITION COMPANY


 


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)
	 	 	 	 	 	 	 	 	 	 	 	 	Under Uniform Gifts to Minors
	 	 	 	 	 	 
	JT TEN	 	 	—	 	 	
        as joint tenants with right of survivorship and not as tenants in
        common

         
	 	 	 	 	 	
        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 Corporation 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).


 


In each case, as more fully described in the Company’s final
prospectus dated [___________], 2017, 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 the Company redeems
the shares of common stock underlying this certificate and liquidates because it does not consummate an initial business combination
by the date set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from
time to time, or if the holder(s) seek(s) to redeem for cash his, her or its respective shares of common stock underlying this
certificate in connection with a tender offer (or proxy solicitation, solely in the event the Corporation seeks stockholder approval
of the proposed initial business combination) setting forth the details of a proposed initial business combination or in connection
with certain amendments to the Company’s Amended and Restated Certificate of Incorporation. In no other circumstances shall
the holder(s) have any right or interest of any kind in or to the trust account.