Document:

Exhibit 4.1

 

	
        NUMBER

        U-
	UNITS
	 	CUSIP 69242M 203

 

	
         

SEE REVERSE FOR CERTAIN DEFINITIONS

 

OYSTER ENTERPRISES ACQUISITION CORP.

 

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

HALF 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 Oyster Enterprises Acquisition Corp., a Delaware
corporation (the “Company”), and one-half 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
whole 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”), and (ii) twelve (12) months from the closing of the Company’s initial public
offering and unless exercised earlier, will expire at 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 thereof or the Company’s
liquidation. The Common Stock and Warrants comprising the Units represented by this certificate are not transferable separately
prior to , 2021, unless Imperial Capital, 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 Company’s initial public offering and the Company 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 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 signature of a duly authorized signatory
of the Company.

 

 

	 	 	 
	Authorized Signatory	 	Transfer Agent and Registrar

 

     

     

    

 

OYSTER ENTERPRISES 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)
	 	 	 	 	 	 	 	 
	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 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 the Company’s initial public offering only in the event that (i)
the Company redeems the shares of Common Stock sold in the Company’s initial public offering and liquidates because it does
not consummate an initial Business Combination by               , 2023 (or such later date as the Company’s amended and restated certificate
of incorporation may be amended to provide for), (ii) the Company offers to redeem the shares of 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 provide for the redemption of such Common Stock in connection
with the Company’s initial business combination or to redeem 100% of such Common Stock if it does not consummate an initial
Business Combination by                , 2023 or (B) with respect to any other provision relating to stockholders’ rights or pre-initial
Business Combination activity, and the holder(s) of this certificate elects to have such shares of Common Stock held by him, her
or it redeemed pursuant to that offer, or (iii) 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.Exhibit 4.2

 

	NUMBER	SHARES
	C-	 
	 	CUSIP 69242M 104

 

	
         

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

OYSTER ENTERPRISES ACQUISITION CORP.

 

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

 

OYSTER ENTERPRISES ACQUISITION CORP.

(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 is unable to complete a business combination by             , 2023 (or such later date the Company’s amended and
restated certificate of incorporation may be amended to provide for), 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 Registrar of the Company.

 

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

 

[Corporate Seal]

Delaware

 

	 	 	 
	Chief Executive Officer	 	Chief Financial Officer

 

	 
	Transfer Agent and Registrar

 

     

     

    

 

OYSTER ENTERPRISES ACQUISITION CORP.

 

The Company will furnish without charge to each stockholder
who so requests, 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.
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 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 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           , 2023 (or such later date as the Company’s amended and restated
certificate of incorporation may be amended to provide for), (ii) the Company offers to redeem 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 provide for the redemption of such
Class A common stock in connection with the Company’s initial business combination or to redeem 100% of such Class A common
stock if it does not consummate an initial business combination by            , 2023 or (B) with respect to any other material provision relating
to stockholders’ rights or pre-initial business combination activity, and the holder(s) of this certificate elects to have
such shares of Class A common stock held by him, her or it redeemed pursuant to that offer, 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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