Shearman & Sterling advised Credit Suisse as sole
book-running manager on the upsized initial public offering of
SilverBox Corp III, a special-purpose acquisition company, of 13.80
million units at an offering price of $10.00 per unit, each unit
consisting of one share of Class A common stock and one-third of
one warrant, resulting in gross proceeds to the Company of $139.38
million, before deducting underwriting discounts and commissions
and offering expenses. The 13.80 million units included 1.80
million units issued pursuant to the underwriter's option to
purchase additional units. The units began trading on the New York
Stock Exchange under the ticker symbol "SBXC.U" on
February 28, 2023.
SilverBox Corp III is a blank check company formed for the purpose
of effecting a merger, capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. The company intends to focus its search on
identifying a prospective target business in the consumer, food and
agriculture, e-commerce, Internet and retail, financial services
and financial technology, media, entertainment and hospitality,
business services, software and SaaS, telecommunications services
and technology, industrial technology and infrastructure and energy
transition sectors in the United States. The company is led by
Chairman and Chief Executive Officer Stephen M. Kadenacy and Chief
Financial Officer Daniel Esters.
The Shearman & Sterling team was led by partners Ilir Mujalovic
(New York—Capital Markets), Bill Nelson
(Houston—Capital Markets), Jennifer Morton (New
York—Financial Institutions Advisory & Financial
Regulatory); counsel John Menke (Houston—Capital Markets);
and associates Katya Bogdanov (Toronto—Capital Markets),
Jessica Kelly (New York—Capital Markets) and Taylor Pugliese
(New York—Financial Institutions Advisory & Financial
Regulatory).
Silverbox Corp III's $138 Million Spac IPO
Shearman & Sterling LLP
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Shearman & Sterling advised Credit Suisse as sole book-running manager on the upsized initial public offering of SilverBox Corp III, a special-purpose acquisition company, of 13.80 million units...