Exhibit 4.1


 


NUMBER UNITS


U-[●]


 


SEE REVERSE FOR CERTAIN


DEFINITIONS


 


CUSIP 448740 209


 


HYDRA INDUSTRIES ACQUISITION CORP.


 


UNITS CONSISTING OF ONE SHARE OF COMMON
STOCK, ONE WARRANT TO


PURCHASE ONE-HALF OF ONE SHARE OF COMMON
STOCK, AND ONE RIGHT TO RECEIVE ONE-TENTH OF 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 Hydra
Industries Acquisition Corp., a Delaware corporation (the “Company”), one right (the “Right”)
and one warrant (the “Warrant”). Each holder of a Right will receive one-tenth (1/10) of one share
of Common Stock upon the Company’s completion of a Business Combination. Each Warrant entitles the holder to purchase
one-half (1/2) of one share (subject to adjustment) of Common Stock for $5.75 per half 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 (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, Rights and Warrants comprising the Units
represented by this certificate are not transferable separately prior to [_______], 2014, unless UBS Securities 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 Rights are governed by a Rights Agreement,
dated as of [_______], 2014, between the Company and Continental Stock Transfer & Trust Company, as Rights 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 Warrants are governed by a Warrant Agreement, dated as of [______], 2014, 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
Rights Agreement and the Warrant Agreement are on file at the office of the Warrant Agent at 17 Battery Place, New York, New York 10004,
and are available to any Right holder or Warrant holder, respectively, 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

         



 




    	 



    	 



    

 







HYDRA INDUSTRIES ACQUISITION 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	 	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 [________], 2014, 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 the Company’s initial public offering only in the event that
the Company redeems the shares of Common Stock sold in such initial public offering and liquidates because the Company does not
consummate an initial business combination by [__________], 2016 or if the holder(s) seek(s) to redeem for cash his, her or its
respective shares of Common Stock in connection with a tender offer (or proxy solicitation, solely in the event the Company seeks
stockholder 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.