Item 3.02. Unregistered Sales of Equity Securities.

The disclosure with respect to the sale of an additional 750,000 warrants in the Over-Allotment Private Placement (as defined below) under Section 8.01 is incorporated by reference herein.




 Item 8.01. Other Events.

As previously disclosed on a Current Report on Form 8-K dated July 6, 2021, Macondray Capital Acquisition Corp. I (the "Company") consummated its initial public offering ("IPO") of 25,000,000 units (the "Units"). Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share (the "Class A ordinary shares"), and one-third of one redeemable warrant of the Company. Each whole warrant is exercisable to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Only whole warrants are exercisable. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $250,000,000 (before underwriting discounts and commissions and offering expenses). The Company granted the underwriter in the IPO a 45-day option to purchase an additional 3,750,000 Units (the "Over-Allotment Units") to cover over-allotments (the "Option"), if any.

Simultaneously with the closing of the IPO, pursuant to (i) the Private Placement Warrants Purchase Agreement between the Company and Macondray, LLC (the "Sponsor"), dated June 30, 2021, and (ii) the Amended and Restated Subscription Agreements by and among the Company, the Sponsor and certain funds and accounts managed by subsidiaries of BlackRock, Inc (the "Anchor Investor"), dated June 17, 2021, the Company completed the private sale of 4,666,667 warrants to the Sponsor and 2,000,000 warrants to the Anchor Investor, respectively (the "IPO Private Placement"), at a purchase price of $1.50 per warrant, generating gross proceeds to the Company of $10,000,000.

Subsequently, on August 5, 2021, the underwriter fully exercised the Option, and the closing of the issuance and sale of the Over-Allotment Units occurred on August 10, 2021. The issuance by the Company of the Over-Allotment Units at a price of $10.00 per Over-Allotment Unit resulted in total gross proceeds of $37,500,000. On August 10, 2021, simultaneously with the issuance and sale of the Over-Allotment Units, the Company consummated the sale of an additional 525,000 warrants to the Sponsor and 225,000 warrants to the Anchor Investor (the "Over-Allotment Private Placement" and, together with the IPO Private Placement, the "Private Placements"), at a purchase price of $1.50 per warrant, generating gross proceeds of $1,125,000. The warrants issued in the Over-Allotment Private Placement were issued pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended, as the transaction did not involve a public offering.

A total of $290,375,000, comprised of $281,750,000 of the proceeds from the IPO (which amount includes $10,062,500 of the underwriter's deferred discount payable to the underwriter solely in the event that the Company completes an initial business combination, subject to the terms of the Underwriting Agreement, dated June 30, 2021, by and between the Company and B. Riley Securities, Inc., as underwriter) and $8,625,000 of the proceeds from the Private Placements, was placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee.

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