Company: SBXD
Filing Date: 2025-08-07
Form Type: 8-K
Source: 0001104659-25-074831
Chunk: 2

Company: SilverBox Corp IV
Filing Date: 2025-08-07
Form: 8-K
Item: Item 1.01
Chunk 2
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 the Business Combination Agreement. The
“ Exchange Ratio” is the quotient obtained by dividing the Per Unit Price by $10.00, the “ Per Unit
Price” is an amount equal to (x) the sum of $100,000,000, plusthe gross cash proceeds of the Initial Financing
Transactions (as defined below), plusthe gross cash proceeds of any Additional Financing Transactions (as defined below) of
the Company prior to the Closing, divided by(y) the total number of issued and outstanding Company Units, after treating all
outstanding in-the-money convertible securities of the Company as fully vested and exercised, exchanged or converted as of the
Effective Time, but excluding any Company Units owned by the Company in treasury or by any subsidiary of the Company and the
“ Adjustment Shares” means a number of shares of Pubco Class A Stock equal to (X) the product of (A) (I) the
quotient obtained by dividing (i) the Closing Bitcoin Price by (ii) the Signing Bitcoin Price, (II) minus 1, multiplied by (B) the
Preferred Equity Investment Gross Cash Proceeds divided by (Y) $10.00; provided, that the amount calculated in (A) of the foregoing
shall not be less than zero.

As additional consideration,
Company Holders of Common Units also have the potential to receive up to 7,500,000 additional shares of Pubco Class A Stock (the “ Earnout
Shares”) (along with any Earnings thereon) contingent upon the Pubco Class A Stock meeting certain share price targets during
the 5-year period following the Closing (the “ Earnout Period”). The Earnout Shares will be issued by Pubco into an
escrow account at or prior to the Closing and released in accordance with the following:

  Two-thirds (2/3) of the Earnout Shares will be released if the VWAP of the Pubco Class A Stock equals                            

  One-third (1/3) of the Earnout Shares will be released if the VWAP of the Pubco Class A Stock equals or                   

All of the Earnout Shares
will be accelerated and released if, during the Earnout Period, Pubco is subject to a change of control in which the implied consideration
per share of Pubco Class A Stock equals or exceeds $12.50 per share (a “ Qualifying Change of Control”). In the event
that the applicable share price targets are not met during the Earnout Period