Adam Clammer - Jul 15, 2021 Form 3 Insider Report for Bilander Acquisition Corp. (TWCB)

Role: 10%+ Owner
Signature: /s/ Rufina Adams, as Attorney-in-Fact for Adam Clammer
Stock symbol: TWCB
Transactions as of: Jul 15, 2021
Transactions value $: $0
Form type: 3
Date filed: 7/15/2021, 06:38 PM

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	TWCB	Class B common stock							Jul 15, 2021	Class A common stock	4.92M		By Bilander Holdings, LLC	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	As described in the issuer's registration statement on Form S-1 (File No. 333-253419) under the heading "Principal Stockholders", the Class B common stock will automatically convert into shares of Class A common stock in three tranches after the issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights. Shares of Class B common stock that are issued and outstanding on the ten year anniversary of issuer's initial business combination will be automatically forfeited for no consideration.
F2	Bilander Holdings, LLC, a Delaware limited liability company is the sponsor of the issuer ("Sponsor"). Shipyard Advisors, L.P. ("Shipyard") is the managing member of Sponsor and Bilander Aggregator, LLC. Shipyard Advisors GP, LLC is the general partner of Shipyard. As a managing member of Shipyard Advisors GP, LLC, Adam H. Clammer, together with James H. Greene, may be deemed to have or share beneficial ownership of the Class B common stock held directly by Sponsor. Mr. Clammer disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.

Content

As described in the issuer's registration statement on Form S-1 (File No. 333-253419) under the heading "Principal Stockholders", the Class B common stock will automatically convert into shares of Class A common stock in three tranches after the issuer's initial business combination on a one-for-one basis, subject to adjustment pursuant to certain anti-dilution rights. Shares of Class B common stock that are issued and outstanding on the ten year anniversary of issuer's initial business combination will be automatically forfeited for no consideration.

Bilander Holdings, LLC, a Delaware limited liability company is the sponsor of the issuer ("Sponsor"). Shipyard Advisors, L.P. ("Shipyard") is the managing member of Sponsor and Bilander Aggregator, LLC. Shipyard Advisors GP, LLC is the general partner of Shipyard. As a managing member of Shipyard Advisors GP, LLC, Adam H. Clammer, together with James H. Greene, may be deemed to have or share beneficial ownership of the Class B common stock held directly by Sponsor. Mr. Clammer disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.