Document:

Exhibit 4.1

 

SPECIMEN UNIT CERTIFICATE

 

NUMBER UNITS U-

 

	
        SEE REVERSE FOR CERTAIN DEFINITIONS
	Authentic Equity Acquisition Corp.	 
		 	 	 

CUSIP [    ]

 

UNITS CONSISTING OF ONE CLASS A ORDINARY
SHARE

AND ONE-HALF OF ONE REDEEMABLE

 

WARRANT TO PURCHASE ONE CLASS A ORDINARY
SHARE

 

THIS CERTIFIES THAT           
is the owner of            Units.

 

Each Unit (“Unit”) consists
of one (1) Class A ordinary share, par value $0.0001 per share (“Ordinary Shares”), of Authentic Equity Acquisition
Corp., a Cayman Islands exempted company (the “Company”), and one-half (1/2) of one redeemable warrant (each whole
warrant, a “Warrant”). Each Warrant entitles the holder to purchase one (1) Ordinary Share 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, share exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or
more businesses (each, a “Business Combination”), and (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 Ordinary Shares and Warrants comprising the Units represented by this certificate are not transferable
separately prior to [●], 2020, unless Jefferies LLC and BMO Capital Markets Corp. elect to allow earlier separate trading,
subject to the Company’s filing with the Securities and Exchange Commission of a Current Report on Form 8-K containing an
audited balance sheet reflecting the Company’s receipt of the gross proceeds of the initial public offering and issuing a
press release announcing when separate trading will begin. No fractional warrants will be issued upon separation of the Units and
only whole warrants are exerciseable. 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.

 

Upon the consummation
of the Business Combination, the Units represented by this certificate will automatically separate into the Class A Ordinary Shares
and Warrants comprising such Units.

 

     

     

    

 

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 its duly authorized officers.

 

	
         By:  
	 	 	 
	 	President	 	Chief Financial Officer

 

    2

     

    

 

Authentic Equity 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 shares 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
	 	 	

                                                                                _______
 (Cust)
	________

(Minor)
	 	 	 	 
	TEN ENT — as tenants by the entireties	 	under Uniform Gifts to Minors Act
	 	 	 
	 	 	______________________

(State)
	JT TEN — as joint tenants with right of survivorship and not as tenants 

in common	 	 

 

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

 

    3

     

    

 

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 do 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 S.E.C. RULE 17Ad-15 OR ANY  SUCCESSOR RULES).	 

 

    4

     

    

 

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 Ordinary Shares sold in its initial public offering and liquidates because it does
not consummate an initial business combination within the period of time set forth in the Company’s amended and restated
memorandum and articles of association, as the same may be amended from time to time, (ii) the Company redeems the Ordinary Shares
sold in its initial public offering in connection with a shareholder vote to amend the Company’s amended and restated memorandum
and articles of association (A) that would modify the substance or timing of the Company’s obligation to provide holders
of the Ordinary Shares the right to have their shares redeemed in connection with the Company’s initial business combination
or to redeem 100% of the Ordinary Shares if the Company does not complete its initial business combination within the time period
set forth therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares, or (iii)
if the holder(s) seek(s) to redeem for cash his, her or its Ordinary Shares in connection with a tender offer (or proxy solicitation,
solely in the event the Company seeks shareholder 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.

 

5Exhibit
4.2

 

SPECIMEN
CLASS A ORDINARY SHARE CERTIFICATE

 

	 NUMBER
	SHARES

 

AUTHENTIC
EQUITY ACQUISITION CORP.

INCORPORATED UNDER THE LAWS OF THE CAYMAN ISLANDS

CLASS A ORDINARY SHARES

 

SEE
REVERSE FOR

CERTAIN DEFINITIONS

CUSIP [    ]

 

This
Certifies that            is the owner of           

 

FULLY
PAID AND NON-ASSESSABLE CLASS A ORDINARY SHARES OF THE PAR VALUE OF US $0.0001 EACH OF AUTHENTIC EQUITY ACQUISITION CORP. (THE
“COMPANY”)

 

subject
to the Company’s amended and restated memorandum and articles of association, as the same may be amended from time to time,
and 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 Class A ordinary shares if it is unable to complete a business combination within
the period set forth in the Company’s amended and restated memorandum and articles of association, as the same may be amended
from time to time, 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 signatures of its duly authorized officers.

 

Dated:___________________________________________

 

	 President
	 	Chief
    Financial Officer
	 	 	 
	 	 	 

 

     

     

    

 

AUTHENTIC
EQUITY ACQUISITION CORP.

 

The
Company will furnish without charge to each shareholder who so requests the powers, designations, preferences and relative, participating,
optional or other special rights of each class of shares 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 memorandum and articles of association, as the
same may be amended from time to time, and resolutions of the Board of Directors providing for the issue of Class A ordinary shares
(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
	 	 	

                                                                                ________

                                                                                (Cust)
	

                                                                                ________

                                                                                (Minor)

	TEN
    ENT - as tenants by the entireties	 	under
    Uniform Gifts to Minors Act
	 	 	 
	 	 	

                                                                                _________________________

                                                                                (State)

	JT
    TEN - as joint tenants with right of survivorship and not as tenants in common	 	 

 

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

 

    2

     

    

 

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
represented by the within Certificate, and does hereby irrevocably constitute and appoint           
Attorney to transfer the said shares on the books of the within named Company with full power of substitution in the premises.

 

Dated_____________________________

 

	 	 
	 	Shareholder
	 	 
	 	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 S.E.C. RULE 17Ad-15 OR ANY SUCCESSOR
RULE).

 

    3

     

    

 

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 its
initial public offering only in the event that (i) the Company redeems the Class A ordinary shares sold in its initial public
offering and liquidates because it does not consummate an initial business combination within the period of time set forth in
the Company’s amended and restated memorandum and articles of association, as the same may be amended from time to time,
(ii) the Company redeems the Class A ordinary shares sold in its initial public offering in connection with a shareholder vote
to amend the Company’s amended and restated memorandum and articles of association (A) that would modify the substance or
timing of the Company’s obligation to provide holders of the Class A ordinary shares the right to have their shares redeemed
in connection with the Company’s initial business combination or to redeem 100% of the Class A ordinary shares if the Company
does not complete its initial business combination within the time period set forth therein or (B) with respect to any other provision
relating to the rights of holders of the Class A ordinary shares, or (iii) if the holder(s) seek(s) to redeem for cash his, her
or its Class A ordinary shares in connection with a tender offer (or proxy solicitation, solely in the event the Company seeks
shareholder 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.

 

 4

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