Company: SBXD
Filing Date: 2025-08-07
Form Type: 8-K
Source: 0001104659-25-074831
Chunk: 4

Company: SilverBox Corp IV
Filing Date: 2025-08-07
Form: 8-K
Item: Item 1.01
Chunk 4
---
 the Mergers will be entitled to one (1) vote per share and to receive distributions in proportion to the number
of shares of Pubco Class A Stock held by such holders. In addition, the shares of Pubco Class A Stock will be listed for trading and will
be freely transferable, subject to the terms of the Lock-Up Agreements (as described below) and any restrictions pursuant to applicable
laws.

Holders of shares of
Pubco Class C Stock issued in the Company Merger, all of which immediately following the Closing will be held by an entity
controlled by the Key Company Holder, will collectively have 80% of the voting power of all shares of capital stock of Pubco
(including shares issued in the future) (such voting power, the “ Class C Voting Power”) until such time as the
Key Company Holder, including his permitted transferees (such as charitable trusts and estate planning vehicles), own less than 25%
of their aggregate ownership as of immediately after the Closing (the “ Sunset Date”), with the foregoing
determination taking into account certain considerations to be more fully described in the A& R Certificate of Incorporation (as
defined below). Upon the Sunset Date or upon certain transfers to third parties or certain disqualifying events (namely, removal
from Pubco’s Executive Committee for cause or upon death of the Key Company Holder), the shares of Pubco Class C Stock will
automatically convert into shares of Pubco Class A Stock. Each holder of a share of Pubco Class C Stock shall, prior to such
conversion, be entitled to the Class C Voting Power for each share of Pubco Class C Stock held of record by such holder on all
matters on which Pubco stockholders are entitled to vote generally, including the election or removal of directors, and all matters
on which holders of Pubco Class C Stock as a separate class are entitled to vote. Holders of shares of Pubco Class C Stock will be
entitled to the same economic rights as the holders of shares of Pubco Class A Stock, including any rights to distributions and
dividends. The shares of Pubco Class C Stock will not be listed or freely transferable.

Representations and Warranties

The Business Combination Agreement
contains customary representations and warranties of the parties, which shall not survive the Closing. Many of the representations and
warranties are qualified by materiality or Material Adverse Effect. “ Material Adverse Effect” as used in