Bilander Acquisition Corp., 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, has closed of its initial public offering of 15,000,000 units at $10.00 per unit, resulting in gross proceeds of $150,000,000.

The Company’s units began trading on the Nasdaq Capital Market under the ticker symbol “TWCBU” on July 16. 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 under the ticker symbols “TWCB” and “TWCBW,” respectively.

In connection with the initial public offering, the Ccmpany 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 Wagner, head of strategic capital for True Wind, who is responsible for leading True Wind’s SPAC franchise and overseeing its operations, and James Greene, Jr., a founding partner of True Wind, who will serve as chief executive officer and chairman, respectively.

Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc., and Evercore Group LLC acted 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.