Document:

Exhibit 4.1

 

SPECIMEN UNIT CERTIFICATE

 

	
    NUMBER

     

    RWODU
	 	UNITS

 

REDWOODS ACQUISITION CORP.

 

	
    SEE REVERSE FOR

    CERTAIN DEFINITIONS
	 	CUSIP 758083 208

 

UNITS CONSISTING OF ONE SHARE OF COMMON STOCK,
ONE REDEEMABLE WARRANT AND

ONE RIGHT TO RECEIVE ONE-TENTH (1/10) OF ONE SHARE OF COMMON STOCK

 

THIS CERTIFIES THAT __________________________________________________________
___________________is the

 owner of _________________________________________________________________________________________ Units.

 

Each Unit (“Unit”) consists
of one (1) share of common stock, par value $0.0001 per share (“Common Stock”), of Redwoods Acquisition Corp.,
a Delaware corporation (the “Company”), one redeemable warrant (the “Warrant(s)”)
and one right (the “Right(s)”). Each redeemable warrant entitles the holder thereof to purchase one share of
Common Stock at a price of $11.50 per share (subject to adjustment), upon the later to occur of (i) the Company’s completion of
a merger, share exchange, asset acquisition, stock purchase, recapitalization, reorganization or other similar business combination with
one or more businesses or entities (a “Business Combination”) or (ii) 12 months from the closing of the Company’s
initial public offering. Every ten Rights entitles the holder thereof to receive one share of Common Stock upon the consummation of the
Business Combination. The Common Stock, Warrants and Rights comprising the Units represented by this certificate are not transferable
separately prior to the 45th day after the date of the prospectus relating to the closing of the Company’s initial public offering
(“IPO”), subject to earlier separation in the discretion of Chardan Capital Markets, LLC, provided that the
Company has filed with the Securities and Exchange Commission a Current Report on Form 8-K which includes an audited balance sheet reflecting
the Company’s receipt of the gross proceeds of the IPO and issued a press release announcing when separate trading will begin.

 

The terms of the Warrants and Rights are governed
by a warrant agreement (the “Warrant Agreement”) and rights agreement (the “Rights Agreement”),
dated as of [●], 2022, between the Company and Continental Stock Transfer & Trust Company, as the warrant agent and rights agent,
and is subject to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents
to by acceptance hereof. A copy of the Warrant Agreement and Rights Agreement is on file at the office of Continental Stock Transfer &
Trust Company at 1 State Street, 30th Floor, New York, NY 10004-1561 and is available to Warrants holder and Rights holder 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 signatures of its duly authorized officers.

 

	By	 	 	 
	 	Chief Executive Officer	 	Secretary

 

 

 

     

     

    

 

Redwoods 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	 
	 	 	 	 	 	 	(Cust)	 	(Minor)
	TEN ENT	—	as tenants by the entireties	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	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 sell(s), assign(s) and transfer(s) 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(es) 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) 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).	 

 

The holder(s) of this certificate shall be entitled
to receive a pro-rata portion of the funds from the trust account with respect to the common stock underlying this certificate only in
the event that (i) the Company is forced to liquidate because it does not consummate an initial business combination within the period
of time set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may be amended from time to time
(the “Charter”) or (ii) if the holder(s) seek(s) to convert his, her or its shares upon consummation of, or
tender(s) his, her or its shares in a tender offer in connection with, an initial business combination or in connection with certain amendments
to the Charter. In no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.Exhibit 4.3

 

SPECIMEN WARRANT CERTIFICATE

 

	NUMBER	 	WARRANTS
	
     

    RWODW
	 	 

 

(THIS WARRANT WILL
BE VOID IF NOT EXERCISED PRIOR TO 5:00 P.M.

NEW YORK CITY TIME,
FIVE YEARS FROM THE CLOSING DATE OF THE COMPANY’S INITIAL

BUSINESS COMBINATION)

 

REDWOODS ACQUISITION
CORP.

 

CUSIP 758083 117

 

WARRANT

 

THIS WARRANT CERTIFIES
THAT, for value received                                         ,
or registered agents, is the registered holder of a Warrant or Warrants (each, a “Warrant”), expiring on a date
which is five (5) years from the completion of the Company’s initial business combination, to purchase one share of fully paid and
non-assessable common stock (the “Warrant Shares”), $0.0001 par value, of REDWOODS ACQUISITION CORP., a Delaware
corporation (the “Company”), for each Warrant evidenced by this Warrant Certificate. This Warrant Certificate
is subject to and shall be interpreted under the terms and conditions of the Warrant Agreement (as defined below).

 

The
Warrant entitles the holder thereof to purchase from the Company, from time to time, in whole or in part, commencing on the later of (i)
after the completion of the Company’s initial business combination or (ii) twelve (12) months following the closing of the Company’s
initial public offering, such number of Warrant Shares at the price of $11.50 per share (the “Warrant Price”),
upon surrender of this Warrant Certificate and payment of the Warrant Price at the office or agency of Continental Stock Transfer &
Trust Company (the “Warrant Agent”), such payment to be made subject to the conditions set forth herein and
in the Warrant Agreement, dated as of [●], 2022, between the Company and the Warrant Agent (the “Warrant Agreement”).
In no event shall the registered holder(s) of this Warrant be entitled to receive a net-cash settlement in lieu of physical settlement
in Warrant Shares of the 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 be adjusted, subject to certain conditions. The term
Warrant Price as used in this Warrant Certificate refers to the price per full Warrant Share at which Warrant Shares may be purchased
at the time the Warrant is exercised.

 

This
Warrant will expire on the date first referenced above if it is not exercised prior to such date by the registered holder(s) pursuant
to the terms of the Warrant Agreement or if it is not redeemed by the Company prior to such date.

 

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 down 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 Warrant Shares provided for herein, there shall be issued to the registered
holder(s) hereof or its assignee(s) a new Warrant Certificate covering the number of Warrant Shares for which the Warrant has not been
exercised.

 

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(s) 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(s) 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 registered
holder(s), 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(s) to any of the rights of a shareholder of the Company.

 

After
the Warrant becomes exercisable and prior to its expiration date, the Company reserves the right to call the Warrant at any time, with
a notice of call in writing to the holder(s) of record of the Warrant, giving thirty (30) days’ written notice of such call if the
last reported sale price of the shares has been equal to or greater than $16.50 per share for any twenty (20) trading days within a thirty
(30) trading day period ending on the third (3rd) trading day prior to the date on which notice of such call is given, provided that (i)
a registration statement under the Securities Act of 1933, as amended (the “Act”) with respect to the common
stock underlying the Warrants issuable upon exercise must be effective and a current prospectus must be available for use by the registered
holders hereof or (ii) the Warrants may be exercised on cashless basis as set forth in the Warrant Agreement and such cashless exercise
is exempt from registration under the Act. The call price is $0.01 per Warrant Share.

 

If
the foregoing conditions are satisfied and the Company calls the Warrant for redemption, each holder will then be entitled to exercise
his, her or its Warrant prior to the date scheduled for redemption; provided that the Company may require the registered holder(s) who
desires to exercise the Warrant, to elect cashless exercise as set forth in the Warrant Agreement, and such registered holder(s) must
exercise the Warrants on a cashless basis if the Company so requires. 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 $0.01 call price.

 

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 by and construed in accordance with the internal laws of the State of New York, without regard to
conflicts of laws principles thereof.

 

	 	 	 
	CHIEF EXECUTIVE OFFICER	 	SECRETARY
	 	 	 

 

COUNTERSIGNED:

 

CONTINENTAL STOCK TRANSFER & TRUST COMPANY,

WARRANT AGENT

 

	BY:	 	 
	AUTHORIZED OFFICER	 
	 	 
	DATED:	 	 

 

 

 

 

 

 

 

    2

     

    

 

[REVERSE OF CERTIFICATE]

 

SUBSCRIPTION FORM

 

To Be Executed by the
Registered Holder(s) in Order to Exercise Warrants

 

The
undersigned hereby irrevocably elects to exercise the right, represented by this Warrant Certificate, to receive common stock in accordance
with the terms of this Warrant Certificate and pursuant to the method selected below. Capitalized terms used herein and not otherwise
defined have the respective meanings set forth in the Warrant Certificate. PLEASE CHECK ONE METHOD OF PAYMENT:

 

	 	 	 	 	a “Cash Exercise” with respect to                                 Warrant Shares; and/or
	 	 	 	 	 
	 	 	 	 	a “Cashless Exercise” with respect to                                 Warrant Shares because on
	 	 	 	 	the date of this exercise, there is no effective registration statement registering the Warrant Shares, or the prospectus contained therein is not available for the resale of the Warrant Shares, in which event the Company shall deliver to the registered holder(s)                  shares of common stock pursuant to Section 3.3.2 of the Warrant Agreement.

 

The undersigned requests
that a certificate for such shares be registered in the name(s) of:

 

	 
	(PLEASE TYPE OR PRINT NAME(S) AND ADDRESS)
	 
	(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S))

 

	and be delivered to	 	 
	 	 	(PLEASE PRINT OR TYPE NAME(S) 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(s) at the address(es) stated below:

 

Dated:

 

 

	(SIGNATURE(S))	 
	 	 
	 	 
	(ADDRESS(ES))	 

 

	(TAX IDENTIFICATION NUMBER(S))	 

 

    3

     

    

 

ASSIGNMENT

 

To Be Executed by the
Registered Holder in Order to Assign Warrants

 

For Value Received,                                     
hereby sell(s), assign(s), and transfer(s) unto

 

	(PLEASE TYPE OR PRINT NAME(S) AND ADDRESS(ES))	 	 
	 	 	 

(SOCIAL SECURITY
OR TAX IDENTIFICATION NUMBER(S))

 

	and to be delivered to	 	 	 	 
	 	 	(PLEASE PRINT OR TYPE NAME(S) AND ADDRESS(ES))	 	 
	 	 	 

(SOCIAL SECURITY OR TAX IDENTIFICATION NUMBER(S))

 

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(S))	 

 

NOTICE: THE SIGNATURE(S)
TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME(S) 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).

 

 

4

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