Document:

Exhibit 4.1

 

SPECIMEN UNIT CERTIFICATE

 

NUMBER UNITS U-

 

	SEE REVERSE FOR	Pegasus Digital
    Mobility Acquisition Corp.	 
	CERTAIN	 	 
	DEFINITIONS	 	 

 

CUSIP []

 

UNITS CONSISTING OF ONE CLASS A ORDINARY
SHARE AND ONE-HALF OF ONE REDEEMABLE

 

WARRANT 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 (“Ordinary Shares”), of Pegasus Digital Mobility Acquisition Corp., a Cayman Islands
exempted company (the “Company”), and one-half (1/2) of one redeemable warrant (each whole warrant, a “Warrant”).
Each Warrant entitles the holder to purchase one (1) Ordinary Share for $11.50 per share (subject to adjustment). Each Warrant will
become exercisable  thirty (30) days after the Company’s completion of a merger, 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 “Expiration Date”).
The Ordinary Shares and Warrants comprising the Units represented by this certificate will begin separate trading on the 52nd day following
the date of the prospectus that is filed in connection with the offering of the Units (or, if such date is not a business day, the following
business day), unless Barclays Capital Inc. elects 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 are exercisable. 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.

 

Upon the consummation of the Business Combination,
the Units represented by this certificate will automatically separate into the Class A Ordinary Shares and Warrants comprising such
Units.

 

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
officer.

 

	By	 	 
	 	 	Chief Executive Officer

 

    	 	 	 

     

    

 

Pegasus Digital Mobility 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 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	 
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(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.

 

    	 	 	 

     

    

 

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 Ordinary Shares sold in its initial public offering and liquidates because it does not consummate an initial business
combination within the period of time set forth in the Company’s amended and restated memorandum and articles of association, as
the same may be amended from time to time, (ii) the Company redeems the 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) that would modify
the substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed
in connection with the Company’s initial business combination or to redeem 100% of the Ordinary Shares if the Company does not complete
its initial business combination within the time period set forth therein or (B) with respect to any other provision relating to
the rights of holders of the Ordinary Shares, or (iii) if the holder(s) seek(s) to redeem for cash his, her or its respective
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.Exhibit 4.2

 

SPECIMEN CLASS A ORDINARY SHARE CERTIFICATE

 

	NUMBER	SHARES

 

PEGASUS DIGITAL MOBILITY ACQUISITION CORP. 

INCORPORATED UNDER THE LAWS OF THE CAYMAN ISLANDS 

CLASS A ORDINARY SHARES

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

CUSIP []

 

This Certifies that                                         is
the owner of

 

FULLY PAID AND NON-ASSESSABLE CLASS A
ORDINARY SHARES OF THE PAR VALUE OF

US$0.0001 EACH OF PEGASUS DIGITAL MOBILITY ACQUISITION
CORP. (THE “COMPANY”)

 

subject to the Company’s amended and restated
memorandum and articles of association, as the same may be amended from time to time, and 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 Class A ordinary shares if it is unable to complete a business combination within the period set forth in the Company’s
amended and restated memorandum and articles of association, 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 facsimile signatures of its duly
authorized officer.

 

		Dated:	 	 

 

Chief Executive Officer

 

     

     

    

 

PEGASUS DIGITAL MOBILITY ACQUISITION CORP.

 

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 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
memorandum and articles of association, as the same may be amended from time to time, and resolutions of the Board of Directors providing
for the issue of Class A ordinary shares (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.

 

     

     

    

 

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 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 Class A ordinary
shares sold in its initial public offering and liquidates because it does not consummate an initial business combination within the period
of time set forth in the Company’s amended and restated memorandum and articles of association, as the same may be amended from
time to time, (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) that would modify the
substance or timing of the Company’s obligation to allow redemption in connection with the initial Business Combination or to redeem
100% of the public shares if the Company has not consummated an initial Business Combination within the period of time set forth in the
Company’s amended and restated memorandum and articles of association or (B) with respect to any other provisions 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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