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”), one right to receive one-tenth
(1/10) of one share of Common Stock (the “Rights”), 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, Warrants
and Rights 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 (“Continental”), 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. The terms of the
Rights are governed by a Rights Agreement, dated as of [              ], 2017, between the Company and Continental, as Rights Agent, and are
subject to the terms and provisions contained therein, all of which terms are provisions the holder of this certificate consents
to by acceptance hereof. Copies of the Warrant Agreement and Rights Agreement are on file at the office of the Warrant Agent and
the Rights Agent at 1 State Street Plaza, 30th Floor, New York, New York 10004, and are available to any Warrant or Rights
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.