SilverBox III, the third blank check company formed by SilverBox Capital, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
The Austin, TX-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, SilverBox III would command a market value of $125 million.
The company is led by Executive Chairman Stephen Kadenacy and CEO Joseph Reece, co-founders and Managing Partners of SilverBox Capital. Reece and Kadenacy also co-founded Helena Capital and Boxwood Capital. SilverBox III intends to acquire one or more businesses with an aggregate enterprise value in excess of $750 million.
Management's previous SPACs include, SilverBox Engaged Merger I, which completed its merger with Black Rifle Coffee (BRCC; -31% from $10 offer price) in February 2022, and Boxwood Merger, which completed its merger with Atlas Technical Consultants (ATCX; +22%) in August 2019.
SilverBox III was founded in 2021 and plans to list on the NYSE under the symbol SBXC.U. Credit Suisse is the sole bookrunner on the deal.
