Grady Burnett - Jun 30, 2021 Form 3 Insider Report for Macondray Capital Acquisition Corp. I (DRAY)

Role
Chairman and Co-CEO, Director, 10%+ Owner
Signature
/s/ R. Grady Burnett
Stock symbol
DRAY
Transactions as of
Jun 30, 2021
Transactions value $
$0
Form type
3
Date filed
6/30/2021, 08:37 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 DRAY Class B ordinary shares, par value $0.0001 Jun 30, 2021 Class A ordinary shares, par value $0.0001 7M See footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Class B ordinary shares are convertible into Class A ordinary shares as described under the heading "Description of Securities-Founder Shares" in the Issuer's registration statement on Form S-1 (File No. 333-256171). The Class B ordinary shares have no expiration date.
F2 Represents 6,997,500 Class B ordinary shares held by Macondray, LLC (the "Sponsor"). The reporting person and W. Lance Conn are the managing members of the Sponsor. Accordingly, the reporting person may be deemed to have or share beneficial ownership of the Class B ordinary shares held directly by the Sponsor. Certain membership interests in the Sponsor are held by the reporting person, a family trust of which the reporting person and his wife are trustees and a limited liability company of which the reporting person and his wife are managing members.
F3 Includes 937,500 Class B ordinary shares that are subject to forfeiture depending on the extent to which the underwriters' over-allotment option is exercised in connection with the Issuer's initial public offering of Class A ordinary shares. The reporting person disclaims beneficial ownership of all of the securities that are or may be beneficially owned by the Sponsor or any of its affiliates except to the extent of his pecuniary interest therein. Pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this filing shall not be deemed an admission that the reporting person is, for purposes of Section 16 of the Exchange Act or otherwise, the beneficial owner of any equity securities of the Issuer for purposes of Section 16 of the Exchange Act or otherwise.

Remarks:

See Exhibit 24.1 - Power of Attorney