Document:

Exhibit 4.1

 

	NUMBER	UNITS
	U-	 

 

	SEE REVERSE FOR	Cactus Acquisition Corp. 1 Limited	 

 

 CERTAIN

 

 DEFINITIONS

 

	 	CUSIP  [●]

 

UNITS CONSISTING
OF ONE CLASS A ORDINARY SHARE AND ONE-THIRD WARRANT,

EACH WARRANT
ENTITLING THE HOLDER 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 (“Class A
ordinary shares”), of Cactus Acquisition Corp. 1 Limited , a Cayman Islands exempted company (the
“Company”), and one-third of one redeemable warrant (“Warrant”). Each Warrant
entitles the holder to purchase one (1) Class A ordinary share (subject to adjustment) for $11.50 per share (subject to adjustment).
Each Warrant will become exercisable thirty (30) days after the Company’s completion of a merger, amalgamation, share
exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses (each
a “Business Combination”), 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 Class A ordinary shares and Warrants comprising the Units represented by this certificate will begin
separate trading on [●] unless Oppenheimer & Co. Inc. elects to allow earlier separate trading, 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 its 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 [●],
2021, 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 One 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
its duly authorized officers.

 

	By 	        	 
	 	 	 
	 	Chief Executive Officer	 

 

     

     

    

 

Cactus Acquisition
Corp. 1 Limited 

 

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
	 	 	 	 
	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 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 register of members 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.

 

    2

     

    

 

 

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 RULE) UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

    3

     

    

 

In each case, as more fully described
in the Company’s final prospectus dated [●], 2021, 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 by a date calculated by reference to the Company’s amended and restated memorandum and articles of association,
(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) to modify the substance or timing of the Company’s
obligation to redeem 100% of the Class A ordinary shares if it does not consummate an initial business combination by a date calculated
by reference to the Company’s amended and restated memorandum and articles of association or (b) with respect to any other provision
relating to shareholders’ rights or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to redeem for cash
his, her or its respective 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.

 

 

4Exhibit 4.2

 

	NUMBER	SHARES

 

CACTUS ACQUISITION
CORP. 1 LIMITED 

 

INCORPORATED
UNDER THE LAWS OF THE CAYMAN ISLANDS

 

CLASS A ORDINARY
SHARES

 

SEE REVERSE FOR

 

CERTAIN DEFINITIONS

 

	This Certifies that is the owner of	CUSIP [●]

 

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

 

CACTUS ACQUISITION CORP. 1
LIMITED 

 

(THE “COMPANY”)

 

transferable
on the register of members 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 by a date calculated by reference
to the Company’s amended and restated memorandum and articles of association, all as more fully described in the Company’s
final prospectus dated [●], 2021.

 

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.

 

	Dated:	 
	 	 
	 	 
	CHIEF EXECUTIVE OFFICER	 

 

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	 	under Uniform Gifts to Minors

 

	 	tenants in common	 	 

 

	 	 	 Act	 
	 	 	 	(State)

 

     

     

    

 

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

 

CACTUS ACQUISITION
CORP. 1 LIMITED

 

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 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 amended and restated memorandum and
articles of association and all amendments thereto and resolutions of the Company’s 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.

 

	For value received,	hereby sell, assign and transfer unto

 

(PLEASE INSERT SOCIAL SECURITY OR OTHER

 IDENTIFYING NUMBER OF ASSIGNEE(S))

	
     

     

(PLEASE PRINT OR
TYPEWRITE NAME 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 register of members 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 RULE) UNDER THE SECURITIES EXCHANGE ACT OF 1934, AS AMENDED).

 

     

     

    

 

In each case, as more fully described in the Company’s
final prospectus dated [●], 2021, 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
by a date calculated by reference to the Company’s amended and restated memorandum and articles of association, (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) to modify the substance or timing of the Company’s obligation to
redeem 100% of the Class A ordinary shares if it does not consummate an initial business combination by a date calculated by reference
to the Company’s amended and restated memorandum and articles of association or (b) with respect to any other provision relating
to shareholders’ rights or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to redeem for cash his,
her or its respective 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.

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