# EDGAR Filing Document

**Accession Number:** 0002057227
**File Stem:** 0001213900-25-095541
**Filing Date:** 2025-10
**Character Count:** 8854
**Document Hash:** 65182c358838fa6599fdd7418d1bfb61
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-095541.hdr.sgml**: 20251002

**ACCESSION NUMBER**: 0001213900-25-095541

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251002

**DATE AS OF CHANGE**: 20251002

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Cadeler A/S
- **CENTRAL INDEX KEY:** 0001978867
- **STANDARD INDUSTRIAL CLASSIFICATION:** DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** G7
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94285
- **FILM NUMBER:** 251370864

**BUSINESS ADDRESS:**
- **STREET 1:** KALVEBOD BRYGGE 43
- **CITY:** COPENHAGEN V
- **STATE:** G7
- **ZIP:** DK-1560
- **BUSINESS PHONE:** 45 3246 3100

**MAIL ADDRESS:**
- **STREET 1:** KALVEBOD BRYGGE 43
- **CITY:** COPENHAGEN V
- **STATE:** G7
- **ZIP:** DK-1560
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BW Altor Pte. Ltd.
- **CENTRAL INDEX KEY:** 0002057227

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 10 PASIR PANJANG ROAD
- **STREET 2:** #18-01
- **CITY:** MAPLETREE BUSINESS CITY
- **PROVINCE COUNTRY:** U0
- **BUSINESS PHONE:** 65 (0) 6434 5818

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 10 PASIR PANJANG ROAD
- **STREET 2:** #18-01
- **CITY:** MAPLETREE BUSINESS CITY
- **PROVINCE COUNTRY:** U0

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Cadeler A/S**

*(Name of Issuer)*

**Ordinary Shares, with a nominal value of DKK 1.00 per share**

*(Title of Class of Securities)*

**12738K109**

*(CUSIP Number)*

**Nicholas Fell**<br>BW Maritime Pte. Ltd.

#18-01, 10 Pasir Panjang Road<br>Mapletree Business City U0 117438<br>65 (0) 6434 5818

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**09/30/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **12738K109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**BW Altor Pte. Ltd.** | Name of reporting person<br>**BW Altor Pte. Ltd.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**U0** | Citizenship or place of organization<br>**U0** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**78495522.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**78495522.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**78495522.00** | Aggregate amount beneficially owned by each reporting person<br>**78495522.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**22.4%** | Percent of class represented by amount in Row (11)<br>**22.4%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**CO** | Type of Reporting Person (See Instructions)<br>**CO** | |

---

**Comment for Reporting Person:** (1) The CUSIP 12738K109 applies to Cadeler A/S's American Depositary Shares, each representing four ordinary shares of Cadeler A/S. BW Altor Pte. Ltd. (the "Reporting Person" or "BWA") holds 78,495,522.00 ordinary shares. (2) The working capital used to purchase the ordinary shares of Cadeler A/S originated from an equity injection by the Reporting Person's sole equityholder. (3) The response to Item 13 above, 22.4%, is based on a total of 350,479,238 outstanding ordinary shares of Cadeler A/S, which amount was calculated from Cadeler A/S' Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 26, 2025, which disclosed 350,957,583 shares with 478,345 shares held in treasury.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary Shares, with a nominal value of DKK 1.00 per share

**(b) Name of Issuer:**
Cadeler A/S

**(c) Address of Issuer's Principal Executive Offices:**
KALVEBOD BRYGGE 43, COPENHAGEN V, G7, DK-1560

This Amendment No. 2 to Schedule 13D (this "Amendment No. 2") relates to the shares, nominal value DKK 1 per share (the "Shares"), including Shares represented by American Depositary Shares ("ADSs", each representing 4 Shares) of Cadeler A/S (the "Issuer"), whose principal executive offices are located at Arne Jacobsens Alle 7, 7th floor DK-2300 Copenhagen S, Denmark. This Amendment No. 2 amends and supplements the statement on the Schedule 13D originally filed by BWA with the Securities and Exchange Commission (the "SEC") on February 19, 2025 (the "Original Schedule 13D")  and amended on May 28, 2025 ("Amendment No. 1" and, together with the Original Schedule 13D and Amendment No. 1, the "Schedule 13D"). Except as specifically provided herein, this Amendment No. 2 does not modify any of the information previously reported in the Schedule 13D. Capitalized terms used herein and not otherwise defined in this Amendment No. 2 have the meanings set forth in the Original Schedule 13D. Except as otherwise stated in this Amendment No. 2, the Original Schedule 13D, as amended, remains in full force and effect.

**Item 5. Interest in Securities of the Issuer**

**(a)**
The Reporting Person may be deemed to beneficially own 78,495,522 Shares, representing approximately 22.4% of the outstanding Shares. The foregoing beneficial ownership percentage is based on a total of 350,479,238 outstanding ordinary shares of Cadeler A/S, which amount was calculated from Cadeler A/S' Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 26, 2025, which disclosed 350,957,583 shares with 478,345 shares held in treasury.

**(b)**
The Reporting Person has sole voting power and sole dispositive power over 78,495,522 Shares, representing approximately 22.4% of the outstanding Shares. The foregoing percentage is based on a total of 350,479,238 outstanding ordinary shares of Cadeler A/S, which amount was calculated from Cadeler A/S' Report of Foreign Private Issuer on Form 6-K filed with the Securities and Exchange Commission on August 26, 2025, which disclosed 350,957,583 shares with 478,345 shares held in treasury.

**(c)**
Except as described in the following chart, to the best of the Reporting Person's knowledge, there have been no transactions in the Shares effected by the Reporting Person or, to the best of the knowledge of the Reporting Person, without independent verification, any of the other persons with respect to whom information is given in response to Item 2, during the past 60 days.

The below chart reflects the transactions in Common Stock effected by BWG during the past 60 days:

Trade date            No. of Shares Purchased     Average Price             Transaction Price Range
10-Sept-25           2,239,501                               $52.0000                    $52.00
30-Sept-25           1,442,210                               $49.9463(1)                 $49.46 to $50.80

(1) Reflects the weighted average purchase price per Share sold in multiple transactions. The Reporting Person undertakes to provide the SEC staff, upon request, all information regarding the number of shares sold at each separate price within the ranges set forth above.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** BW Altor Pte. Ltd.

**Signature:** /s/ Nicholas John Oxleigh Fell

**Name/Title:** Nicholas John Oxleigh Fell/Authorized Signatory

**Date:** 10/02/2025