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

Role
10%+ Owner
Signature
/s/ Rufina Adams, as Attorney-in-Fact for Bilander Holdings, LLC
Stock symbol
TWCB
Transactions as of
Jul 15, 2021
Transactions value $
$0
Form type
3
Date filed
7/15/2021, 07:03 PM
Next filing
Jul 26, 2022

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 Direct 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 This Form 3 is being filed by Bilander Holdings, LLC, a Delaware limited liability company and 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 the managing members of Shipyard Advisors GP, LLC, James H. Greene and Adam H. Clammer may be deemed to have or share beneficial ownership of the Class B common stock held directly by Sponsor. Each such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest they may have therein, directly or indirectly.