Document:

Exhibit 4.1

 

SPECIMEN UNIT CERTIFICATE

 

NUMBER UNITS

 

U-

 

Power & Digital Infrastructure Acquisition
II Corp.

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

CUSIP

 

UNITS CONSISTING OF ONE SHARE OF COMMON STOCK
AND ONE-HALF OF ONE REDEEMABLE

WARRANT 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 Power & Digital Infrastructure Acquisition II Corp., a
Delaware corporation (the “Company”), and one-half (1/2) of one redeemable warrant (each whole warrant, a “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 Warrant will become exercisable 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 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 Common Stock and Warrants comprising the Units represented by this certificate are not transferable separately prior
to               , 2022, unless Barclays Capital Inc. and BofA
Securities, Inc. 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 will trade. 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 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 Financial Officer

 

    2

     

    

 

Power & Digital Infrastructure Acquisition
II 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	 
	 	 	 	 	(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).

 

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 its initial
public offering and liquidates because it does not consummate an initial business combination by the date set forth in the Company’s
amended and restated certificate of incorporation, (ii) the Company redeems 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 allow redemption in connection with its initial business combination or to redeem
100% of the Common Stock if the Company has not consummated an initial business combination within 18 months (or 21 months or 24 months,
as applicable) from the closing of the initial public offering or (b) with respect to any other provisions of the amended and restated
certificate of incorporation relating to stockholders’ rights or pre-initial business combination activity, the holder of Common
Stock shall be provided with the opportunity to redeem their shares of Common Stock upon the approval of any such amendment, at a per-share
price, payable in cash, equal to the aggregate amount then on deposit in the trust account, including interest not previously released
to the Company to pay taxes, divided by the number of then outstanding shares of Common Stock 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.

 

 

4Exhibit 4.2

 

SPECIMEN CLASS A COMMON STOCK CERTIFICATE

 

	NUMBER	SHARES

 

POWER & DIGITAL INFRASTRUCTURE ACQUISITION
II CORP.

INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE

CLASS A COMMON STOCK

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

CUSIP     

 

This Certifies that                          is
the owner of

 

FULLY PAID AND NON-ASSESSABLE SHARES OF CLASS
A COMMON STOCK, PAR VALUE OF $0.0001

 

EACH OF THE CLASS A COMMON STOCK OF

 

POWER & DIGITAL INFRASTRUCTURE ACQUISITION
II 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 the date set forth in the Company’s amended and restated

certificate of incorporation, as the same may be amended from time to time, 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 seal
of the Company and the facsimile signatures of its duly authorized officers.

 

	Dated:______________________________	 	 
	 	 	 
	Chief Executive Officer	[Corporate Seal] Delaware	Chief Financial Officer

 

     

     

    

 

POWER & DIGITAL INFRASTRUCTURE ACQUISITION
II 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 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. 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 of the Class A common stock 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).

 

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 shares
of Class A common stock sold in its initial public offering and liquidates because it does not consummate an initial business combination
by the date set forth in the Company’s amended and restated certificate of incorporation, (ii) the Company redeems the share 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 allow redemption in connection
with its initial business combination or to redeem 100% of the Class A common stock if the Company has not consummated an initial business
combination within 18 months (or 21 months or 24 months, as applicable) from the closing of the initial public offering or (b) with respect
to any other provisions of the amended and restated certificate of incorporation relating to stockholders’ rights or pre-initial
business combination activity, the holder of Class A common stock shall be provided with the opportunity to redeem their shares of Class
A common stock upon the approval of any such amendment, at a per-share price, payable in cash, equal to the aggregate amount then on deposit
in the trust account, including interest not previously released to the Company to pay taxes, divided by the number of then outstanding
shares of Class A common stock 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.

 

 

3

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