Document:

SPECIMEN COMMON STOCK CERTIFICATE

 

	     NUMBER	SHARES
	U- ___________	 

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

	 	AQUASITION CORP.	CUSIP ___________

 

INCORPORATED UNDER

 

THE LAWS OF THE REPUBLIC OF THE MARSHALL
ISLANDS

 

SHARES OF COMMON STOCK

 

	THIS CERTIFIES THAT 	 
	is the owner of	 	  shares of common stock
	 	 	 	 

transferable on the books of AQUASITION
CORP. (the “Company”) in person or by duly authorized attorney upon surrender of this certificate properly endorsed.
The holder of this certificate shall be entitled to receive funds from the trust account only in accordance with the terms of
the Investment Management Trust Agreement, dated as of [_______], 2012, by and between the Company and American Stock Transfer
and Trust Company, entered into in connection with the Company’s initial public offering.  In no other circumstances
shall the holder have any right or interest of any kind in or to the trust account. Witness the seal of the Company and the facsimile
signatures of its duly authorized officers.

 

	  By  	 	 	 
	 	Chief Executive Officer	 	Secretary

 

AQUASITION CORP.

CORPORATE

SEAL

2012

REPUBLIC OF THE MARSHALL ISLANDS

 

    	 

    	 

    

 

AQUASITION 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

TEN ENT  -  as tenants by the
entireties

JT TEN  -  as joint tenants with
right of survivorship

and not as tenants in common

 

	UNIF GIFT MIN ACT -	 	Custodian	 
	 	(Cust)	 	(Minor)
	 	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 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) 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).

 

The holder of this certificate shall be entitled to receive
funds from the trust account only in accordance with the terms of the Investment Management Trust Agreement, dated as of [_______],
2012, by and between the Company and American Stock Transfer and Trust Company, entered into in connection with the Company’s
initial public offering.  In no other circumstances shall the holder have any right or interest of any kind in or to
the trust account.Number

 

SPECIMEN REDEEMABLE PUBLIC WARRANT
CERTIFICATE

 

THIS WARRANT SHALL BE VOID IF NOT EXERCISED
PRIOR TO

THE EXPIRATION OF THE EXERCISE PERIOD PROVIDED FOR

IN THE WARRANT AGREEMENT DESCRIBED BELOW

AQUASITION CORP.

Incorporated Under the Laws of the Marshall Islands

 

CUSIP__________

 

Warrant Certificate

 

This Warrant Certificate certifies
that                                       ,
or registered assigns, is the registered holder of                     
warrants (the “Warrants”) to purchase shares of Common Stock, $.0001 par value (the “Common
Stock”), of Aquasition Corp., a Marshall Islands corporation (the “Company”). Each Warrant
entitles the holder, upon exercise during the period set forth in the Warrant Agreement referred to below, to receive from the
Company that number of fully paid and nonassessable shares of Common Stock (each, a “Warrant”) as set
forth below, at the exercise price (the “Exercise Price”) as determined pursuant to the Warrant Agreement,
payable in lawful money of the United States of America upon surrender of this Warrant Certificate and payment of the Exercise
Price at the office or agency of the Warrant Agent referred to below, subject to the conditions set forth herein and in the Warrant
Agreement. Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant
Agreement.

 

Each Warrant is initially exercisable for
one fully paid and non-assessable share of Common Stock. The number of the Warrants issuable upon exercise of the Warrants is subject
to adjustment upon the occurrence of certain events set forth in the Warrant Agreement.

 

The initial Exercise Price per share of
Common Stock for any Warrant is equal to $11.50 per share. The Exercise Price is subject to adjustment upon the occurrence of certain
events set forth in the Warrant Agreement.

 

Subject to the conditions set forth in the
Warrant Agreement, the Warrants may be exercised only during the Exercise Period and to the extent not exercised by the end of
such Exercise Period, such Warrants shall become void.

 

Reference is hereby made to the further
provisions of this Warrant Certificate set forth on the reverse hereof and such further provisions shall for all purposes have
the same effect as though fully set forth at this place.

 

This Warrant Certificate shall not be valid
unless countersigned by the Warrant Agent, as such term is used in the Warrant Agreement.

 

This Warrant Certificate shall be governed
and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles thereof.

 

    	 

    	 

    

 

	 	AQUASITION CORP.
	 	 
	 	By:	 
	 	Name:
	 	Title: Chief Executive Officer
	 	 
	 	By:	 
	 	Name:
	 	Title: Secretary

 

Countersigned:

Dated: ________, 20__

AMERICAN STOCK TRANSFER & TRUST
COMPANY, LLC,

as Warrant Agent

 

    	 

    	 

    

 

[REVERSE]

 

The Warrants evidenced by this Warrant Certificate
are part of a duly authorized issue of Warrants entitling the holder on exercise to receive shares of Common Stock and are issued
or to be issued pursuant to a Warrant Agreement dated as of                       ,
2012 (the “Warrant Agreement”), duly executed and delivered by the American Stock Transfer & Trust
Company, LLC, a  New York corporation, as warrant agent (the “Warrant Agent”), which Warrant
Agreement is hereby incorporated by reference in and made a part of this instrument and is hereby referred to for a description
of the rights, limitation of rights, obligations, duties and immunities thereunder of the Warrant Agent, the Company and the holders
(the words “holders” or “holder” meaning the Registered Holders or Registered
Holder) of the Warrants. A copy of the Warrant Agreement may be obtained by the holder hereof upon written request to the Company.
Defined terms used in this Warrant Certificate but not defined herein shall have the meanings given to them in the Warrant Agreement.

 

Warrants may be exercised at any time during
the Exercise Period set forth in the Warrant Agreement. The holder of Warrants evidenced by this Warrant Certificate may exercise
them by surrendering this Warrant Certificate, with the form of election to purchase set forth hereon properly completed and executed,
together with payment of the Exercise Price as specified in the Warrant Agreement at the principal corporate trust office of the
Warrant Agent. In the event that upon any exercise of Warrants evidenced hereby the number of Warrants exercised shall be less
than the total number of Warrants evidenced hereby, there shall be issued to the holder hereof or his, her or its assignee, a new
Warrant Certificate evidencing the number of Warrants not exercised. No adjustment shall be made for any dividends on any of the
shares of Common Stock issuable upon exercise of this Warrant.

 

Notwithstanding anything else in this Warrant
Certificate or the Warrant Agreement, no Warrant may be exercised unless at the time of exercise (i) a registration statement
covering the shares of Common Stock to be issued upon exercise is effective under the Securities Act of 1933 and (ii) a prospectus
thereunder relating to the shares of Common Stock is current.

 

The Warrant Agreement provides that upon
the occurrence of certain events the number of the Warrants set forth on the face hereof may, subject to certain conditions, be
adjusted. If, upon exercise of a Warrant, the holder thereof would be entitled to receive a fractional interest in a share of Common
Stock, the Company shall, upon exercise, round up or down to the nearest whole number of shares to be issued to the holder of the
Warrant.

 

Warrant Certificates, when surrendered at
the principal corporate trust office of the Warrant Agent by the Registered Holder thereof in person or by legal representative
or 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 evidencing
in the aggregate a like number of Warrants.

 

Upon due presentation for registration of
transfer of this Warrant Certificate at the office 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(s) in exchange for this Warrant
Certificate, subject to the limitations provided in the Warrant Agreement, without charge except for any tax or other governmental
charge imposed in connection therewith.

 

The Company and the Warrant Agent may deem
and treat the Registered Holder(s) thereof as the absolute owner(s) 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 holder(s)
hereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.
Neither the Warrants nor this Warrant Certificate entitles any holder hereof to any rights of a stockholder of the Company.

 

    	 

    	 

    

 

Election to Purchase

 

(To Be Executed Upon
Exercise of Warrant)

 

The undersigned hereby irrevocably elects
to exercise the right, represented by this Warrant Certificate, to receive                     
shares of Common Stock and herewith tenders payment for such shares to the order of Aquasition Corp. (the “ Company”)
in the amount of $                       
  in accordance with the terms hereof. The undersigned requests that a certificate for such shares be registered in the
name of                        ,
whose address is                       
  and that such shares be delivered to                  
       whose address is                
                     
                     
      . If said number of shares is less than all of the shares of Common Stock purchasable hereunder,
the undersigned requests that a new Warrant Certificate representing the remaining balance of such shares be registered in the
name of                        ,
whose address is                        
                   , and that such
Warrant Certificate be delivered to                       ,
whose address is                        .

 

In the event that the Warrant has been called
for redemption by the Company pursuant to Section 8 of the Warrant Agreement, the number of shares that this Warrant is exercisable
for shall be determined in accordance with  Section 8.3   of the Warrant Agreement.

 

	Date:                     , 20___	 	 
	 	 	(Signature)
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	(Address)
	 	 	 
	 	 	 
	 	 	(Tax Identification Number)

 

Signature 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).

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