SilverBox Corp III Announces the Separate Trading of Its Class A Common Stock and Warrants, Commencing on April 28, 2023

Rhea-AI Summary

SilverBox Corp III announced that, starting April 28, 2023, holders of Units from its initial public offering can trade the Company’s Class A common stock (symbol: SBXC) and warrants (symbol: SBXC WS) separately on the New York Stock Exchange. Units not separated will continue to trade under the symbol SBXC.U. This shift allows investors increased flexibility in managing their investments. SilverBox Corp III aims to complete a business combination in various industries, leveraging the expertise of its management and advisory teams. The registration of the securities became effective on February 27, 2023. The press release includes forward-looking statements regarding potential business combinations and the associated risks.

Positive

• Holders can now trade Common Stock and Warrants separately, enhancing investment flexibility.
• The Company aims for a business combination leveraging management expertise.

Negative

• None.

 

AUSTIN, Texas--(BUSINESS WIRE)-- SilverBox Corp III (the “Company”) today announced that, commencing on April 28, 2023, holders of the units (the “Units”) sold in the Company’s initial public offering may elect to separately trade the Company’s Class A common stock (the “Common Stock”) and warrants (the “Warrants”) included in the Units.

The Common Stock and Warrants received from the separated Units will trade on the New York Stock Exchange (“NYSE”) under the symbols “SBXC” and “SBXC WS”, respectively. Units that are not separated will continue to trade on NYSE under the symbol “SBXC.U”. No fractional Warrants will be issued upon separation of the Units and only whole Warrants will trade. Holders of Units will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the Units into Common Stock and Warrants.

The Company was 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. The Company may pursue an initial business combination in any business or industry but intends to focus its search on a target business in an industry where it believes the expertise of its management team and its advisory group will provide it with a competitive advantage in completing a successful initial business combination.

The Units were initially offered by the Company in an underwritten offering. Credit Suisse Securities (USA) LLC acted as sole book-running manager of the offering. Copies of the prospectus relating to the offering may be obtained from Credit Suisse Securities (USA) LLC: 6933 Louis Stephens Drive, Morrisville, NC, 27560, Attn: Prospectus Department or by e–mail at usa.prospectus@credit-suisse.com.

The registration statement relating to the securities became effective on February 27, 2023. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated use of the net proceeds from the offering. No assurance can be given that the Company will ultimately complete a business combination transaction. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s registration statement and preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, at www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005974/en/

Gus Okwu

TrailRunner International

Mobile: 410-274-5035

Email: gus.okwu@trailrunnerint.com

Website: www.trailrunnerint.com

Source: SilverBox Corp III

FAQ

What is happening with SilverBox Corp III stock on April 28, 2023?

Holders of Units can trade Class A common stock (SBXC) and warrants (SBXC WS) separately on the NYSE.

What are the trading symbols for SilverBox Corp III after separation of Units?

Common Stock will trade under SBXC, and Warrants will trade under SBXC WS. Units will continue under SBXC.U.

When did the registration statement for SilverBox Corp III securities become effective?

The registration statement became effective on February 27, 2023.

What is the purpose of SilverBox Corp III?

The Company was formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, or similar business combination.

What risks are associated with SilverBox Corp III's forward-looking statements?

Forward-looking statements are subject to numerous conditions, many beyond the Company’s control, as detailed in its registration statement.