SilverBox Capital Launches its Initial SPAC, SilverBox Engaged Merger Corp I
March 2, 2021 – SilverBox Engaged Merger Corp I (Nasdaq: SBEAU) (the “Company”) today announced the closing of its initial public offering of 34,500,000 units, which includes 4,500,000 units issued pursuant to the full exercise by the underwriters of their over-allotment option. The offering was priced at $10.00 per unit, resulting in gross proceeds of $345,000,000. The Company’s units began trading on the Nasdaq Stock Market under the ticker symbol “SBEAU” on Friday, February 26, 2021. The Company, which is sponsored by SilverBox Engaged Sponsor LLC and is led by Joseph Reece and Stephen Kadenacy who will serve as Executive Chairman and Chief Executive Officer, respectively, is 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.
In connection with the initial public offering, the Company has entered into a forward purchase agreement with Engaged Capital, LLC, that will provide for the aggregate purchase of $100,000,000 of 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.
March 2, 2021
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