Company: SBXD
Filing Date: 2025-08-07
Form Type: 425
Source: 0001104659-25-074863
Chunk: 2

Company: SilverBox Corp IV
Filing Date: 2025-08-07
Form: 425
Chunk 2
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 Share held by such shareholder in accordance with the
terms of the Business Combination Agreement and (b) Company Merger Sub will merge with and into the Company, with the Company continuing
as the surviving entity (the “Company Merger” and, together with the SPAC Merger, the “Mergers,”
and the effective time of the Mergers, the “Effective Time”), and with the Company Holders receiving shares of Pubco
Class A Stock (other than the Key Company Holder (as defined below) who will receive shares of Pubco Class C common stock (“Pubco Class C Stock and together with the Pubco Class A Stock, “Pubco Stock”) in exchange for their Company Units (as
defined below) in accordance with the terms of the Business Combination Agreement. As a result of the Mergers, SPAC and the Company will
become wholly-owned subsidiaries of Pubco, and Pubco will become a publicly traded company, all upon the terms and subject to the
conditions set forth in the Business Combination Agreement and in accordance with applicable law. At least one (1) Business Day prior
to the Effective Time, SPAC will de-register from the Register of Companies in the Cayman Islands by way of continuation out of the Cayman
Islands and into the State of Delaware so as to re-domicile as and become a Delaware corporation (the “Conversion”).

Consideration

As consideration for the
Company Merger, at the Effective Time, (i) each common unit of membership in the Company (“Company Common Unit”),
other than Company Common Units held by Edward Chin (the “Key Company Holder”), will be converted into the right
to receive, in exchange for such Company Common Unit, a number of shares of Pubco Class A Stock equal to (A) the Exchange Ratio (as
defined below) multiplied by (B) one Company Unit, (ii) each non-voting preferred unit of the Company (“Company Preferred Unit,” and together with the Company Common Units, the “Company Units”) will be converted
into the right to receive, in exchange for such Company Preferred Unit, a number of shares of Pubco Class A Stock equal to (A) the
Exchange Ratio multiplied by the product of one Company Preferred Unit multiplied by 1.30 plus (B) the
Preferred Holder Pro Rata Share of any Adjustment Shares, and (iii) each Company Common Unit held by the Key Company Holder as of
immediately prior the Effective Time will