SilverBox Corp IV (SBXD) seeks Dec 19, 2026 extension; redemption cap removed
SilverBox Corp IV asks shareholders to approve amendments to its articles to extend the deadline to complete an initial business combination from August 19, 2026 to December 19, 2026 and to remove a <$5,000,001> net tangible asset redemption limit. The amendments would permit public shareholders to elect cash redemption from the trust account in connection with the Extension and would allow the company to pay those redemptions even if they would reduce net tangible assets below $5,000,001. The company completed its IPO on August 19, 2024, raising gross proceeds of $200,000,000, and placed $201,000,000 in the Trust Account. On the record date there were 25,455,000 ordinary shares outstanding (including 20,000,000 public shares and 5,000,000 founder shares); Sponsor holds 5,000,000 founder shares (20.0%). If the amendments are not approved and a business combination is not completed by August 19, 2026, the company will wind up and redeem public shares for the pro rata amount in the Trust Account.
Positive
- None.
Negative
- None.
Insights
Extension seeks more time for a proposed SPAC merger; sponsor voting power is material.
The proposals would extend the SPAC’s life to December 19, 2026 and remove a <$5,000,001> net tangible asset cap on redemptions, permitting redemptions funded from the Trust Account. Sponsor and founders control 5,000,000 founder shares (20.0%) and have signaled support for the amendments.
Key governance risks include concentrated founder voting power and the potential for significant redemptions to reduce Trust Account cash, which could impede closing of the Proposed Business Combination. Subsequent filings will show the actual Withdrawal Amount and post-redemption Trust Account balance.
Removing the redemption cap permits more flexibility but increases financing risk for the target closing.
The Redemption Limitation Amendment would allow the company to pay redemptions even if doing so reduces net tangible assets below $5,000,001. The proxy notes that $201,000,000 was placed in the Trust Account at IPO and that public shareholders may redeem pro rata from that account in connection with the Extension.
Investor outcomes depend on how many public shareholders elect redemption; large-scale redemptions could leave insufficient Trust Account funds to satisfy closing conditions for the Proposed Business Combination and might require additional financing or waiver by the target.
Key Figures
Key Terms
Trust Account financial
Redemption Limitation regulatory
founder shares market
Election financial
FAQ
What is SilverBox Corp IV (SBXD) asking shareholders to approve?
How much money was raised in SilverBox Corp IV’s IPO and placed in the Trust Account?
How many SilverBox (SBXD) shares are outstanding and who controls founder votes?
What happens if the extension proposals are not approved?
Can public shareholders redeem their shares now if they approve the Extension?
SECURITIES AND EXCHANGE COMMISSION
Securities Exchange Act of 1934
A Cayman Islands Exempted Company
8701 Bee Cave Road
East Building, Suite 310
Austin, TX 78746
ANNUAL GENERAL MEETING
To Be Held at [[10:00]] a.m. Eastern Time on [•], 2026
| | [•], 2026 | | | | |
| | By Order of the Board of Directors | | | | |
| | | | |
Chief Executive Officer (Principal Executive Officer)
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A Cayman Islands Exempted Company
(Company Number 368378)
8701 Bee Cave Road
East Building, Suite 310
Austin, TX 78746
ANNUAL GENERAL MEETING
TO BE HELD ON [•], 2026
333 Ludlow Street, 5th Floor, South Tower
Stamford, Connecticut 06902
Individuals call toll-free: (800) 662-5200
Banks and Brokerage Firms, please call (203) 658-9400
Email: SBXD.info@investor.sodali.com
1 State Street 30th Floor
New York, New York 10004
Attention: SPAC Redemptions
Email: spacredemptions@continentalstock.com
SHAREHOLDERS EXERCISING REDEMPTION RIGHTS
333 Ludlow Street, 5th Floor, South Tower
Stamford, Connecticut 06902
Individuals call toll-free: (800) 662-5200
Banks and Brokerage Firms, please call (203) 658-9400
Email: SBXD.info@investor.sodali.com
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Class A Ordinary Shares
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Class B Ordinary Shares
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Beneficially
Owned |
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Approximate
Percentage of Class Issued and Outstanding Ordinary Shares |
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Beneficially
Owned |
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Approximate
Percentage of Class Issued and Outstanding Ordinary Shares |
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| Name and Address of Beneficial Owner(1) | | | | | | | | | | | | | | | | | | | | | | | | | |
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SilverBox Sponsor IV LLC(1)(2)(3)
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| | | | — | | | | | | — | | | | | | 5,455,000 | | | | | | 21.4% | | |
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Joseph Reece(1)(2)(3)
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| | | | — | | | | | | — | | | | | | 5,455,000 | | | | | | 21.4% | | |
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Boxwood Holdings III LLC(1)(2)(3)
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| | | | — | | | | | | — | | | | | | 5,455,000 | | | | | | 21.4% | | |
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Stephen Kadenacy(1)(2)(3)
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| | | | — | | | | | | — | | | | | | 5,455,000 | | | | | | 21.4% | | |
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Duncan Murdock
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| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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Jin Chun
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| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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Daniel E. Esters
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| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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David Lee
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| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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Glenn Marino
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| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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Jonathan Lewis
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| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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Reed J. Seaton
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| | | | — | | | | | | — | | | | | | — | | | | | | — | | |
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All executive officers and directors as a group (9 individuals)
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| | | | — | | | | | | — | | | | | | 5,455,000 | | | | | | 21.4% | | |
|
Holders of more than 5% of SilverBox any class of outstanding
ordinary shares |
| | | | | | | | | | | | | | | | | | | | | | | | |
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Polar Asset Management Partners(4)
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| | | | 1,480,000 | | | | | | 7.2% | | | | | | — | | | | | | 5.8% | | |
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Mizuho Financial Group, Inc.(5)
|
| | | | 1,645,673 | | | | | | 8.0% | | | | | | — | | | | | | 6.4% | | |
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AQR Capital Management, LLC(6)
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| | | | 1,347,002 | | | | | | 6.5% | | | | | | — | | | | | | 5.3% | | |
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W.R. Berkley Corporation(7)
|
| | | | 1,211,674 | | | | | | 5.9% | | | | | | — | | | | | | 4.7% | | |
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Barclays PLC(8)
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| | | | 1,431,850 | | | | | | 7.0% | | | | | | | | | | | | 5.6% | | |
333 Ludlow Street, 5th Floor, South Tower
Stamford, Connecticut 06902
Shareholders, please call toll free: (800) 662-5200
Banks and Brokerage Firms, please call collect: (203) 658-9400
Email: SBXD.info@investor.sodali.com
TO THE
AMENDED AND RESTATED
MEMORANDUM AND ARTICLES OF ASSOCIATION
OF
SILVERBOX CORP IV (THE “COMPANY”)
TO THE
AMENDED AND RESTATED
MEMORANDUM AND ARTICLES OF ASSOCIATION
OF
SILVERBOX CORP IV (THE “COMPANY”)
FOR THE EXTRAORDINARY GENERAL MEETING TO BE HELD ON
[•], 2026
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THE BOARD OF DIRECTORS RECOMMENDS A VOTE “FOR” PROPOSAL 1,
PROPOSAL 2 AND PROPOSAL 3. |
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Please mark votes as indicated in this example
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| | | Proposal 1 — Extension Amendment | | | |
FOR
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AGAINST
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ABSTAIN
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Check here for address change and indicate the correct address below:
☐
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| | | Amend the Company’s amended and restated memorandum and articles of association to extend the date that the Company has to consummate a business combination from August 19, 2026 to December 19, 2026. | | | |
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| | | Proposal 2 — Redemption Limitation Amendment | | | |
FOR
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AGAINST
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ABSTAIN
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| | | Date: , 2026 | | |
| | | Amend the Company’s amended and restated memorandum and articles of association to the limitation that the Company may not redeem the Class A ordinary shares included as part of the units sold in the Company’s IPO to the extent that such redemption would result in the Company having net tangible assets to be less than $5,000,001. | | | |
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| | | Signature | | |
| | | | | | | | | | | | | | | | | | | Signature (if held jointly) | | |
| | | | | | | | | | | | | | | | | | | Signature should agree with name printed hereon. If shares are held in the name of more than one person, EACH joint owner should sign. Executors, administrators, trustees, guardians and attorneys should indicate the capacity in which they sign. Attorneys should submit powers of attorney. | | |
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Proposal 3 — Adjournment
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FOR
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AGAINST
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ABSTAIN
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PLEASE SIGN, DATE AND RETURN THE PROXY IN THE ENVELOPE ENCLOSED TO CONTINENTAL STOCK TRANSFER & TRUST COMPANY. THIS PROXY WILL BE VOTED IN THE MANNER DIRECTED HEREIN BY THE ABOVE SIGNED SHAREHOLDER. IF YOU RETURN A SIGNED AND DATED PROXY BUT NO DIRECTION IS MADE, YOUR ORDINARY SHARES WILL BE VOTED FOR THE PROPOSALS SET FORTH ABOVE.
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| | | Adjourn the Extraordinary General Meeting to a later date or dates, if necessary, (i) to permit further solicitation and vote of proxies in the event that there are insufficient votes for, or otherwise in connection with, the approval of Proposal 1 or Proposal 2 or (ii) where the Board has determined it is otherwise necessary. | | | |
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