Company: SBXD
Filing Date: 2025-08-07
Form Type: 425
Source: 0001104659-25-074863
Chunk: 6

Company: SilverBox Corp IV
Filing Date: 2025-08-07
Form: 425
Chunk 6
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 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 the Business
Combination Agreement means, with respect to any specified person, any fact, event, occurrence, change or effect that has had, or would
reasonably be expected to have, individually or in the aggregate, a material adverse effect upon (i) the business, assets, Liabilities,
results of operations, prospects or condition (financial or otherwise) of such Person and its Subsidiaries, taken as a whole, or (ii)
the ability of such Person or any of its Subsidiaries to consummate the Business Combination, in each case subject to certain customary
exceptions. Certain of the representations are subject to specified exceptions and qualifications contained in the Business Combination
Agreement or in information provided pursuant to certain disclosure schedules to the Business Combination Agreement.

Covenants of the Parties

The Business Combination Agreement
also contains pre-closing covenants of the parties, including obligations of the parties to operate their respective businesses, in all
material respects, in the ordinary course of business consistent with past practice, and to refrain from taking certain specified actions
without the prior written consent of the Company, with respect to SPAC, and SPAC, with respect to the Company, Pubco and the Merger Subs,
in each case, subject to certain exceptions and qualifications. Additionally, the parties have agreed not to solicit, initiate, assist,
negotiate or enter into competing transactions,