SilverBox Corp. III
(Note: SilverBox Corp. III upsized its SPAC IPO at pricing on Feb. 27, 2023, to 12.0 million units – up from 10.0 million units in the prospectus – and priced the units at $10.00 each, as expected – to raise $120.0 million. At pricing, SilverBox Corp. III increased its IPO’s size by 20 percent. SilverBox III became the seventh SPAC IPO priced so far this year. SilverBox III is expected to start trading on Tuesday, Feb. 28, 2023, on the New York Stock Exchange. SilverBox Corp III is backed by SilverBox Capital, an alternative investment manager. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share, subject to adjustment as described in this prospectus. Only whole warrants are exercisable.)
We have been formed as part of a long-term vision to sponsor a series of special purpose acquisition companies (“SPACs”). Members of our management team worked together as executive officers or members of the board of directors of Boxwood Merger Corp, which completed its initial business combination with Atlas Technical Consultants, Inc., and as executive officers of members of the board of directors of SBEA, which completed its initial business combination with Black Rifle Coffee Company. Therefore, we represent the third SPAC that members of our management team have led. We believe this vision, strategy and experience will serve as a competitive advantage for us.
We intend to seek to acquire one or more businesses with an aggregate enterprise value in excess of $750 million. (SilverBox Corp. III is incorporated in Delaware)
Stephen M. Kadenacy, our Executive Chairman, is a Co-Founder and a Co-Managing Partner of SilverBox Capital. He has been serving as the Chairman of Centerline Logistics Corp, a leading marine oil transportation services firm and ship assist company, since July 2019. Mr. Kadenacy served as the Chief Executive Officer of SBEA until its business combination with BRCC in February 2022 and served as Chairman and CEO of Boxwood Merger Corp until its business combination and remained on the board of directors of the combined company, Atlas Technical Consultants, Inc., until April 2020. Between May 2008 and July 2017, Mr. Kadenacy served in a number of senior leadership roles at AECOM, a large engineering and technical services business, including its President and Chief Operating Officer from September 2015 to July 2017, President and Chief Financial Officer from 2014 to 2015 and Chief Financial Officer from 2011 to 2014. During his tenure at AECOM, the company grew from approximately $5 billion of revenues in 2008 to approximately $18 billion in 2017. Previously, Mr. Kadenacy was a Partner at KPMG in Economic Consulting and served as a member of the board of directors of ABM Industries, a provider of facility management services, YMCA of Greater Los Angeles and the Board of Trustees for the UCLA’s Anderson School of Business.
Joseph E. Reece, our Chief Executive Officer, is a Co-Founder and a Co-Managing Partner of SilverBox Capital. Previously, he founded Helena Capital, a merchant bank and a predecessor company of SilverBox Capital, in April 2015 and served as Chief Executive Officer until January 2017, and then again from October 2018. Mr. Reece has been serving as Non-Executive Chairman of Compass Minerals since May 2021, having been a member of the board of directors since 2019. He has also been a member of the board of directors of Quotient Technology Inc. since May 2022 and NCR Corporation since November 2022. Mr. Reece also served as a Consultant to BDT & Company, LLC from October 2019 to January 2022. Mr. Reece previously served as Executive Chairman of SBEA until its business combination with BRCC in February 2022 and served as Executive Vice Chairman and Head of UBS Securities, LLC’s Investment Bank for the Americas from February 2017 to September 2018. Prior to that, he was at Credit Suisse from 1997 to 2015, in roles of increasing responsibility, including eventually serving as Global Head of Equity Capital Markets and Co-Head of Credit Risk. His prior experience includes practicing as an attorney for ten years, including at the law firm of Skadden, Arps, Slate, Meagher & Flom LLP and at the SEC. Mr. Reece has previously served as a member of the board of directors of UBS Securities, LLC, of Atlas Technical Consultants, Inc. and its predecessor company, Boxwood Merger Corp., of Del Frisco’s Restaurant Group, Inc., of RumbleOn, Inc, of CST Brands, Inc., and of LSB Industries, Inc. Mr. Reece also currently serves on the board of the Foundation for the University of Akron and Chair-ity, Inc. and has previously served on the boards of directors of the Georgetown Law Center, KIPP, The Fulfillment Fund, and the New York Foundation for the Arts.
|Address||1250 S. Capital of Texas Highway Building 2, Suite 285 Austin, TX 78746|
|Phone Number||(512) 575-3637|
|View Prospectus:||SilverBox Corp. III|
|Revenues||$0 mil (last 12 months)|
|Net Income||$0 mil (last 12 months)|
|Price range||$10.00 - $10.00|
|Est. $ Volume||$120.0 mil|
|Manager / Joint Managers||Credit Suisse|
|Expected To Trade:||2/28/2023|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|