Mon, Sep 23, 8:08 PM (88 days ago)
For the quarter ended June 30, 2024, SilverBox Corp IV reported a net loss of $23,660, primarily attributed to general and administrative expenses, reflecting its status as a newly formed blank check company. The company, incorporated on April 16, 2024, had no operational revenues during this period, as it has not yet completed a business combination. As of the end of the quarter, total assets were $356,664, with cash holdings of $5,915 and deferred offering costs of $350,749. Current liabilities amounted to $355,324, predominantly from accrued offering costs and a related party promissory note of $109,239. Subsequently, on August 19, 2024, the company completed its Initial Public Offering, raising $200 million from the sale of 20 million units at $10 each, along with an additional $4.55 million from a private placement. The proceeds are earmarked for future business combinations, although the company acknowledges potential liquidity challenges if costs exceed estimates or if a significant number of public shares are redeemed. The geopolitical climate, particularly the ongoing conflicts in Ukraine and Israel, poses uncertainties that could impact future operations and market conditions.