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SilverBox Corp IV Class A (SBXD0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The company, incorporated in the Cayman Islands, has not commenced operations or generated revenues to date. Formed for the purpose of effecting a business combination, SilverBox Corp IV is a blank check company seeking to merge with one or more businesses.
The filing details the company's initial public offering, which raised $200 million, and the subsequent placement of $201 million in a trust account. These funds are intended for use in completing a business combination.
SilverBox Corp IV is led by Chairman and CEO Stephen M. Kadenacy, with a management team experienced in SPAC transactions. The company intends to leverage this experience to identify and complete a business combination.
The company has outlined its intention to focus on industries where its management team has expertise, including consumer, technology, and financial services sectors, targeting businesses with an enterprise value exceeding $750 million.
The filing highlights potential conflicts of interest, as management may have fiduciary duties to other entities. SilverBox Corp IV has provisions in place to address these conflicts, including obtaining fairness opinions for transactions with affiliates.
SilverBox Corp IV's management team and sponsor have agreed to certain lock-up provisions and have waived rights to liquidating distributions from the trust account with respect to founder shares if a business combination is not completed.
The company has until August 2026 to complete a business combination, subject to extensions. If a combination is not completed, the company will cease operations and redeem public shares, with remaining funds distributed to shareholders.
The filing also discusses various risks, including regulatory changes, market conditions, and potential conflicts of interest, which could impact the company's ability to complete a business combination.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the SilverBox Corp IV Class A annual 10-K report dated March 13, 2025. To report an error, please email earnings@qz.com.