SilverBox Corp IV, a special purpose acquisition company (SPAC), announced that it successfully completed its initial public offering (IPO) on Monday, raising $200 million from the sale of 20 million units at $10 each. Alongside the IPO, the company also conducted a private placement of 455,000 units at the same price, resulting in additional proceeds.
The combined net proceeds from the IPO and the private placement, totaling $201 million, have been placed into a trust account managed by Continental Stock Transfer & Trust Company for the benefit of SilverBox Corp IV's public shareholders and the underwriters of the IPO.
In accordance with the company's structure as a SPAC, the funds will be held in the trust account until SilverBox Corp IV completes its initial business combination. The funds may only be accessed for the payment of taxes or if public shareholders redeem Class A ordinary shares in connection with certain amendments to the company's governing documents.
If the company does not achieve a business combination within 24 months following the closing of the IPO, the funds will be used to redeem 100% of the outstanding Class A ordinary shares issued during the IPO.
An audited balance sheet dated August 19, 2024, reflecting the receipt of the proceeds from the IPO and private placement, has been issued and is included in the company's recent SEC filing.
SilverBox Corp IV, which is based in Austin, Texas, and trades on the New York Stock Exchange under the ticker symbols SBXD.U for its units, SBXD for its Class A ordinary shares, and SBXD WS for its redeemable warrants, has not yet identified any specific business combination target.
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