SilverBox III Prices Upsized $120M IPO

SilverBox III priced its initial public offering of 12 million units at $10 each, an upsize of 20% from initial plans to offer 10 million units.

The units began listing today on the New York Stock Exchange under the ticker symbol SBXC.U. Each consists of one share and one-third of a warrant.

Once the securities begin separate trading, stock and warrants will list under the symbols SBXC and SBXC WS. The offering is expected to close March 2.

Credit Suisse is sole book-running manager. The SPAC has granted the underwriters a 45-day option to purchase up to 1.8 million additional units at the IPO price to cover any over-allotments.

Sponsored by Austin-based SilverBox Capital, the SPAC will target businesses with an aggregate value of $750 million or more.

Executive Chairman Stephen M. Kadenacy is a co-founder and co-managing partner of SilverBox Capital. He has been serving as the chairman of Centerline Logistics, a marine oil transportation services firm and ship assist company, since July 2019. Mr. Kadenacy also served as the CEO of SBEA until its business combination with BRCC in February 2022 and served as chairman and CEO of Boxwood Merger until its business combination and remained on the board of directors of the combined company, Atlas Technical Consultants, until April 2020.

CEO Joseph E. Reece 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. Read more.

Source: SilverBox III Prices Upsized 0M IPO