SAN FRANCISCO, July 15, 2021 /PRNewswire/ -- Bilander
Acquisition Corp. (the "Company" or "Bilander"), a newly
organized blank check company formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization, or similar business combination with one or more
businesses and sponsored by an affiliate of True Wind Capital
("True Wind"), today announced the pricing of its initial public
offering of 15,000,000 units at $10.00 per unit. The
units will be listed on the Nasdaq Capital Market and trade under
the ticker symbol "TWCBU" beginning Friday, July 16, 2021. The
initial public offering is expected to close on Tuesday, July 20, 2021, subject to customary
closing conditions.
Each unit consists of one share of the Company's Class A common
stock and one-fourth of one redeemable warrant. Each whole warrant
entitles the holder thereof to purchase one share of the Company's
Class A common stock at a price of $11.50 per share. Once the securities comprising
the units begin separate trading, the Class A common stock and
warrants are expected to be listed on the Nasdaq Capital Market
under the symbols "TWCB" and "TWCBW," respectively.
In connection with the initial public offering, the Company has
entered into forward purchase agreements with certain institutional
accredited investors that will provide for the aggregate purchase
of at least $50,000,000 of additional
Class A common stock at $10.00 per
share. Any such purchases will take place in a private placement
that will close concurrently with the closing of the Company's
initial business combination.
Bilander is led by Scott W.
Wagner, Head of Strategic Capital for True Wind, who is
responsible for leading True Wind's SPAC franchise and overseeing
its operations, and James H. Greene,
Jr., a founding partner of True Wind, who will serve as
Chief Executive Officer and Chairman, respectively.
Mr. Wagner brings nearly 30 years of deep operating experience
within the software, internet, consumer media, and data and
analytics sectors.
Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., and
Evercore Group L.L.C. are acting as book-running managers. The
Company has granted the underwriters a 45-day option to purchase up
to 2,250,000 additional units at the initial public offering price
to cover over-allotments, if any.
The initial public offering is being made only by means of a
prospectus. Copies of the prospectus relating to the offering may
be obtained from Morgan Stanley & Co. LLC, Attn: Prospectus
Department, 180 Varick Street, 2nd Floor, New York, New York 10014, telephone: +1 (866)
718-1649 or email: prospectus@morganstanley.com, Deutsche Bank
Securities Inc., Attn: Prospectus Department, 60 Wall Street,
New York, New York 10005,
telephone: 800-503-4611 or email: prospectus.cpdg@db.com, Evercore
Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street,
36th Floor, New York, New York
10055, telephone: (888) 474-0200 or email:
ecm.prospectus@evercore.com.
A registration statement relating to the securities sold in the
initial public offering has been filed with, and declared effective
by, the Securities and Exchange Commission ("SEC") on Thursday, July 15, 2021. This press release shall
not constitute an offer to sell or the solicitation of an offer to
buy, nor shall there be any sale of these securities in any state
or jurisdiction in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction. The
securities to be sold in the private placement have not been
registered under the Securities Act of 1933, as amended, and may
not be offered or sold in the United
States absent registration or an applicable exemption from
the registration requirements of such Act and applicable state
securities laws.
Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute
"forward-looking statements," including with respect to the initial
public offering and the anticipated use of the net proceeds
thereof. No assurance can be given that the funding of the forward
purchase agreements will occur or that the net proceeds of the
offering or forward purchase agreements will be used as indicated.
Forward-looking statements are subject to numerous conditions, many
of which are beyond the control of the Company, including those set
forth in the Risk Factors section of the Company's registration
statement and preliminary prospectus for the Company's offering
filed with the SEC. Copies are available on the SEC's website,
www.sec.gov. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
About the Company
The Company is a newly organized blank check company sponsored
by True Wind, a San
Francisco-based, technology-focused private equity firm
managing approximately $1.4 billion.
Mr. Greene is a founding partner of True Wind.
Contacts:
Jonathan Gasthalter/Nathaniel Garnick
Gasthalter & Co.
(212) 257-4170
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SOURCE Bilander Acquisition Corp.