Document:

Specimen Series B Unit Certificate

 Exhibit 4.2 
  

					
	 NUMBER
  
 U-                    
	  	 	  	SERIES B UNITS
			
	SEE REVERSE FOR CERTAIN DEFINITIONS	  	MERCATOR PARTNERS ACQUISITION CORP.	  	 

  
 CUSIP
                                 
  
 SERIES B UNITS CONSISTING OF TWO SHARES OF CLASS B COMMON STOCK, ONE CLASS
W WARRANT TO PURCHASE ONE SHARE OF COMMON STOCK AND ONE CLASS Z WARRANT TO PURCHASE ONE SHARE OF COMMON STOCK 
  

					
	 THIS CERTIFIES THAT
	  	 	 	 

  

					
	 is the owner of
	  	 	  	Series B Units.

  
 Each Series B Unit (“Series B
Unit”) consists of two (2) shares of Class B common stock, par value $.0001 per share (“Class B Common Stock”), of Mercator Partners Acquisition Corp., a Delaware corporation (the “Company”), one (1) Class W Warrant (the
“Class W Warrant”) and one (1) Class Z Warrant (the “Class Z Warrant”). Each Class W Warrant and Class Z Warrant entitles the holder to purchase one (1) share of common stock, par value $.0001 per share (the “Common
Stock”) $5.00 per share (subject to adjustment). Each Class W Warrant and Class Z Warrant will become exercisable on the later of (a) the Company’s completion of a business combination or (b)
[            ], 2006. The Class W Warrants will expire unless exercised before 5:00 p.m., New York City time, on
[            ], 2010, or earlier upon redemption, and the Class Z Warrants will expire unless exercised before 5:00 p.m., New York City time, on
[            ], 2012, or earlier upon redemption. The Class B Common Stock, Class W Warrants and Class Z Warrants comprising the Series B Units represented by this certificate are
not transferable separately prior to [            ], 2005, subject to earlier separation in the discretion of HCFP/Brenner Securities LLC. The terms of the Class W Warrants and the
Class Z Warrants are governed by a Warrant Agreement, dated as of [            ], 2005, between the Company and American Stock Transfer & Trust Company, as Warrant Agent (the
“Warrant Agreement”), 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 59 Maiden Lane, New York, New York 10038, and are available to any holder of Class W Warrants and Class Z Warrants 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 seal of the Company and the facsimile signature of its
duly authorized officers. 
  

							
	 By
	  	 	  	

	  	 
	 	  	 	  	  	 
	 	  	President	  	  	 Secretary

  

  
 Mercator Partners
Acquisition Corp. 
  
 The Company will furnish without charge
to each stockholder 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	  	 under Uniform Gifts to Minors

	 	  	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)
	 
	
	 
		
	 	 	Series B Units

  
 represented by the within
Certificate, and do hereby irrevocably constitute and appoint 
  

			
	 	 	Attorney

  
 to transfer the said Series B
Units on the books of the within named Company will 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) SHOULD 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.Specimen Class W Warrant Certificate

 Exhibit 4.5 
  

					
	 NUMBER
  
 ___________
	  	 (SEE REVERSE SIDE FOR LEGEND)
 (THIS WARRANT WILL BE VOID IF NOT EXERCISED PRIOR TO
 5:00 P.M. NEW YORK CITY TIME, __________,
2010
	  	WARRANTS

  
 MERCATOR PARTNERS
ACQUISITION CORP. 
  

											
	 	 	 	 	 	 	CUSIP	 	 	 	 

  
 CLASS W WARRANT

  
 THIS CERTIFIES THAT, for value received 
  
 is the registered holder of a Warrant or Warrants expiring
                    , 2010 (the “Warrant”) to purchase one fully paid and non-assessable share of Common Stock, par value $.0001 per
share (“Shares”), of Mercator Partners Acquisition Corp., a Delaware corporation (the “Company”), for each Warrant evidenced by this Warrant Certificate. The Warrant entitles the holder thereof to purchase from the Company,
commencing on the later of (i) the consummation by the Company of a merger, capital stock exchange, asset acquisition or other similar business combination or (ii)
                     , 2006 such number of Shares of the Company at the price of $5.00 per share, upon surrender of this Warrant Certificate and
payment of the Warrant Price at the office or agency of the Warrant Agent, American Stock Transfer & Trust Company (such payment to be made by check made payable to the Warrant Agent), but only subject to the conditions set forth herein and in
the Warrant Agreement between the Company and American Stock Transfer & Trust Company. The Warrant Agreement provides that upon the occurrence of certain events the Warrant Price and the number of Warrant Shares purchasable hereunder, set forth
on the face hereof, may, subject to certain conditions, be adjusted. The term Warrant Price as used in this Warrant Certificate refers to the price per Share at which Shares may be purchased at the time the Warrant is exercised. 
  
 No fraction of a Share will be issued upon any exercise of a Warrant. If the
holder of a Warrant would be entitled to receive a fraction of a Share upon any exercise of a Warrant, the Company shall, upon such exercise, round up to the nearest whole number the number of Shares to be issued to such holder. 
  
 Upon any exercise of the Warrant for less than the total number of full
Shares provided for herein, there shall be issued to the registered holder hereof or his assignee a new Warrant Certificate covering the number of Shares for which the Warrant has not been exercised. 
  
 Warrant Certificates, when surrendered at the office or agency of the Warrant
Agent by the registered holder hereof in person or by attorney duly authorized in writing, may be exchanged in the manner and subject to the limitations provided in the Warrant Agreement, but without payment of any service charge, for another
Warrant Certificate or Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants. 
  
 Upon due presentment for registration of transfer of the Warrant Certificate at the office or agency of the Warrant Agent, a new Warrant Certificate or
Warrant Certificates of like tenor and evidencing in the aggregate a like number of Warrants shall be issued to the transferee in exchange for this Warrant Certificate, subject to the limitations provided in the Warrant Agreement, without charge
except for any applicable tax or other governmental charge. 
  
 The Company and the Warrant Agent may deem and treat the registered holder as the absolute owner of this Warrant Certificate (notwithstanding any notation of ownership or other writing hereon made by anyone), for the purpose of any exercise
hereof, of any distribution to the registered holder, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary. 
  
 This Warrant does not entitle the registered holder to any of the rights of a stockholder of the Company. 
  
 The Company reserves the right to call the Warrant, at any time prior to its
exercise, with a notice of call in writing to the holders of record of the Warrant, giving 30 days’ notice of such call at any time after the Warrant becomes exercisable if the last sale price of the Shares has been at least $7.50 per share on
each of 20 trading days within any 30 trading day period ending on the third business day prior to the date on which notice of such call is given. The call price of the Warrants is to be $.05 per Warrant. Any Warrant either not exercised or tendered
back to the Company by the end of the date specified in the notice of call shall be canceled on the books of the Company and have no further value except for the $.05 call price. 
  

													
							
	By:	 	 	 	 	 	 	 	By:	 	 	 	 
							
	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Secretary	 	 	 	 	 	 	 	Chairman of the Board

  

  
 SUBSCRIPTION FORM

 To Be Executed by the Registered Holder in Order to Exercise Warrants 
  
 The undersigned Registered Holder irrevocably elects to exercise
                     Warrants represented by this Warrant Certificate, and to purchase the shares of Common Stock issuable upon the exercise
of such Warrants, and requests that Certificates for such shares shall be issued in the name of 
  

			
		
	 	 	 
	 	 	(PLEASE TYPE OR PRINT NAME AND ADDRESS)
	 	 	 
		
	 	 	 
		
	 	 	 
	 	 	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)
	and be delivered to	 	 
	 	 	(PLEASE PRINT OR TYPE NAME AND ADDRESS)
	 	 	 

 and, if such number of Warrants shall not be all the Warrants evidenced by this Warrant Certificate, that a new
Warrant Certificate for the balance of such Warrants be registered in the name of, and delivered to, the Registered Holder at the address stated below: 
  

					
	 Dated: ________________________
	 	 	 	  
	 	 	 	 	 (SIGNATURE)

			
	  	 	 	 	  
	 	 	 	 	 (ADDRESS)

			
	  	 	 	 	  
			
	  	 	 	 	  
	 	 	 	 	 (TAX IDENTIFICATION NUMBER)

  
 ASSIGNMENT

 To Be Executed by the Registered Holder in Order to Assign Warrants 
  
 For Value Received,
                     hereby sell, assign, and transfer unto 
  

			
		
	 	 	 
	 	 	(PLEASE TYPE OR PRINT NAME AND ADDRESS)
	 	 	 
		
	 	 	 
		
	 	 	 
	 	 	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER)
	and be delivered to	 	 
	 	 	(PLEASE PRINT OR TYPE NAME AND ADDRESS)

  
                      of the Warrants represented by this Warrant Certificate, and hereby irrevocably constitute and appoint
                     Attorney to transfer this Warrant Certificate on the books of the Company, with full power of substitution in the
premises. 
  

					
			
	 Dated: ________________________
	 	 	 	  
	 	 	 	 	 (SIGNATURE)

  
 THE
SIGNATURE TO THE ASSIGNMENT OF THE SUBSCRIPTION FORM MUSt CORRESPOND TO
THE NAME WRITTEN UPON THE FACE OF THIS WARRANT CERTIFICATE IN EVERY
PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE WHATSOEVER, AND MUST
BE GUARANTEED BY A COMMERCIAL BANK OR TRUST COMPANY OR A MEMBER
FIRM OF THE AMERICAN STOCK EXCHANGE, NEW YORK STOCK EXCHANGE, PACIFIC
STOCK EXCHANGE OR CHICAGO STOCK EXCHANGE.

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