AUSTIN, Texas, Feb. 25, 2021 (GLOBE NEWSWIRE) -- SilverBox Engaged Merger Corp I today announced the pricing of its initial public offering of 30,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Stock Market and trade under the ticker symbol “SBEAU” beginning February 26, 2021.
Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of the Company’s Class A common stock at a price of $11.50 per share, subject to adjustment. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on the Nasdaq Stock Market under the symbols “SBEA” and “SBEAW,” respectively. The initial public offering is expected to close on March 2, 2021, subject to customary closing conditions.
In connection with the initial public offering, the Company has entered into a forward purchase agreement with Engaged Capital, LLC, that will provide for the aggregate purchase of $100,000,000 of Class A common stock at $10.00 per share. Any such purchases will take place in a private placement that will close concurrently with the closing of the Company’s initial business combination.