Document:

Exhibit 4.1

 

	
        NUMBER

        U-
	UNITS

 

CUSIP
[●]

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

HAMILTON LANE ALLIANCE HOLDINGS I, INC.

 

UNITS CONSISTING OF ONE SHARE OF CLASS A
COMMON STOCK AND ONE-

THIRD OF ONE REDEEMABLE WARRANT, EACH WHOLE WARRANT ENTITLING THE HOLDER

TO PURCHASE ONE SHARE OF CLASS A COMMON STOCK

 

THIS CERTIFIES THAT is the owner of Units.

 

Each Unit (“Unit”) consists
of one (1) share of Class A common stock, par value $0.0001 per share (“Common Stock”), of Hamilton Lane
Alliance Holdings I, Inc., a Delaware corporation (the “Company”), and one-third of one redeemable warrant (“Warrant”).
Each whole Warrant entitles the holder to purchase one (1) 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 (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 Common Stock and Warrants comprising the Units represented by this certificate are not transferable separately
prior to               , 2020, unless the representatives of the underwriters elect 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 Company’s initial public 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                  , 2020, 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.

 

This certificate shall be governed by and
construed in accordance with the internal laws of the State of New York.

 

Witness the facsimile signatures of the
duly authorized officers of the Company.

 

	 	 	 
	Chief Executive Officer	 	Chief Financial Officer

 

    

     

    

 

Hamilton Lane Alliance Holdings I, Inc.

 

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 with right

                                                        of survivorship and not as

                                                        tenants in common
	 	 	under Uniform Gifts to Minors Act
	 	 	 	 	 	(State)

 

Additional abbreviations may also be used
though not in the above list.

 

    

     

    

 

For value received, hereby sells, assigns
and transfers 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 does hereby irrevocably constitute and appoint Attorney 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 SEC RULE 17Ad-15 (OR ANY SUCCESSOR RULE) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

In each case, as more fully described in
the Company’s final prospectus dated              , 2020, 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 (i) the Company redeems the shares of Class A common stock sold in the Company’s initial public
offering and liquidates because it does not consummate an initial business combination by                  , 2022, (ii) the Company redeems
the shares of Class A common stock sold in its initial public offering in connection with a stockholder vote to amend the
Company’s amended and restated certificate of incorporation (a) to modify the substance or timing of the Company’s
obligation to allow redemption in connection with the Company’s initial business combination or to redeem 100% of the Class A
common stock if it does not consummate an initial business combination by                 , 2022 or (b) with respect to any other provision
relating to stockholders’ rights or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to
redeem for cash his, her or its respective shares of Class A 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.Exhibit 4.2

 

	NUMBER	SHARES
	C-	 
	 	CUSIP [●]

 

SEE REVERSE FOR CERTAIN DEFINITIONS 

HAMILTON LANE ALLIANCE HOLDINGS I, INC.

 

INCORPORATED UNDER THE LAWS OF THE STATE
OF DELAWARE

CLASS A COMMON STOCK

 

This Certifies that ___________________________________
is the owner of ___________________________

 

FULLY PAID AND NON-ASSESSABLE SHARES OF
THE PAR VALUE OF $0.0001 EACH OF THE CLASS

  A COMMON STOCK OF HAMILTON LANE ALLIANCE HOLDINGS I, INC.

(THE “COMPANY”)

 

transferable on the books of the Company
in person or by duly authorized attorney upon surrender of this certificate properly endorsed.

 

The Company will be forced to redeem all
of its shares of Class A common stock if it does not complete a business combination by          , 2022 or such later date as may be
approved by the Company's stockholders in accordance with the terms of its amended and restated certificate of incorporation, all
as more fully described in the Company’s final prospectus dated          ,
2020.

 

This certificate is not valid unless countersigned
by the Transfer Agent and registered by the Registrar.

 

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

 

[Corporate Seal] 

Delaware 

	 	 	 
	Chief Executive Officer	 	Chief Financial Officer

 

    	 	 	 

     

    

 

HAMILTON LANE ALLIANCE HOLDINGS I, INC.

 

The Company will furnish without charge
to each stockholder who so requests the powers, designations, preferences and relative participation 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. This certificate and the shares represented thereby are issued and shall be held subject to all the provisions of the Company’s
amended and restated certificate of incorporation and all amendments thereto and resolutions of the Board of Directors providing
for the issue of securities (copies of which may be obtained from the secretary of the Company), to all of which the holder of
this certificate by acceptance hereof assents. 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 with right of survivorship and not as tenants in common	 	 	under Uniform Gifts to Minors Act
	 	 	 	 	 	(State)

 

Additional abbreviations may also be used
though not in the above list.

 

    	 	 	 

     

    

 

For value received, _______________________
hereby sells, assigns and transfers unto

 

(PLEASE INSERT SOCIAL SECURITY OR OTHER
IDENTIFYING NUMBER(S) OF ASSIGNEE(S))

 

(PLEASE PRINT OR TYPEWRITE NAME(S) AND
ADDRESS(ES), INCLUDING ZIP CODE, OF ASSIGNEE(S))

 

Shares of the capital stock represented
by the within Certificate, and hereby irrevocably constitutes and appoints Attorney to transfer the said stock on the books of
the within named Company with full power of substitution in the premises.

 

	Dated:	 	 	 
	 	 	NOTICE: THE SIGNATURE(S) 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:

 

	By:	 	 

 

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 SEC RULE 17Ad-15 (OR ANY SUCCESSOR RULE) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

    	 	 	 

     

    

 

In each case, as more fully described in
the Company’s final prospectus dated ,         2020, 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 (i) the Company redeems the shares of Class A common stock sold in the Company’s initial public
offering and liquidates because it does not consummate an initial business combination by         , 2022, (ii) the Company redeems
the shares of Class A common stock sold in its initial public offering in connection with a stockholder vote to amend the
Company’s amended and restated certificate of incorporation (a) to modify the substance or timing of the Company’s
obligation to allow redemption in connection with the Company’s initial business combination or to redeem 100% of the Class A
common stock if it does not consummate an initial business combination by         , 2022 or (b) with respect to any other provision
relating to stockholders’ rights or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to
redeem for cash his, her or its respective shares of Class A 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.

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