Company: SBXD
Filing Date: 2025-08-07
Form Type: 425
Source: 0001104659-25-074863
Chunk: 4

Company: SilverBox Corp IV
Filing Date: 2025-08-07
Form: 425
Chunk 4
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 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                           
 or exceeds $12.50 per share for any 20 trading days within any consecutive 30-trading day period during the Earnout Period; and |

| · | One-third (1/3) of the Earnout Shares will be released if the VWAP of the Pubco Class A Stock equals or                  
 exceeds $15.00 per share for any 20 trading days within any consecutive 30-trading day period during the Earnout Period. |

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, the Company Holders will not be entitled to receive the
applicable portion of the Earnout Shares (along with any Earnings thereon).

As consideration for the SPAC
Merger, at the Effective Time, (i) all issued and outstanding SPAC Public Units will be automatically detached and the holder thereof
shall be deemed to hold (A) one SPAC Class A Ordinary Share, which will be converted into one share of Pubco Class A Stock, and (B) one-third
(1/3) of one SPAC Public Warrant, which will be converted into one third (1/3) of one warrant entitling the holder thereof to purchase
one (1) share of Pubco Class A Stock at a price of $11.50 per share (a “Pubco Public Warrant”), (ii) all issued and
outstanding SPAC Private Units shall be automatically detached and the holder thereof shall be deemed to hold (A) one SPAC Class A Ordinary
Share, which will be converted into one share of Pubco Class A Stock, and (B) one-third (1/3) of one SPAC Private Warrant, which will
be converted into one third (1/3) of one warrant entitling the holder thereof to purchase one (1) share of Pubco Class A Stock at a price
of $11.50 per share