Financial Performance - For the three months ended September 30, 2025, the company reported a net income of $637,702, consisting of interest earned on investments held in the Trust Account of $2,255,300, offset by general and administrative costs of $1,564,598 and compensation expense of $53,000[137] - For the nine months ended September 30, 2025, the company had a net income of $4,031,086, which included interest earned on investments held in the Trust Account of $6,553,627, offset by general and administrative costs of $2,469,541 and compensation expense of $53,000[137] - Cash used in operating activities for the nine months ended September 30, 2025, was $853,693, with net income of $4,031,086 affected by interest earned on investments held in the Trust Account[141] Investments and Trust Account - As of September 30, 2025, the company had investments held in the Trust Account totaling $211,208,265, including approximately $10,208,265 of interest income[143] - The company intends to use substantially all funds held in the Trust Account to complete its Business Combination, with remaining proceeds used for working capital to finance operations of the target business[143] Initial Public Offering - The company completed its Initial Public Offering on August 19, 2024, raising gross proceeds of $200,000,000 from the sale of 20,000,000 Units at $10.00 per Unit[140] - The company incurred a cash underwriting discount of $1,700,000 or 0.85% of the gross proceeds from the Initial Public Offering[153] Debt and Financing - The company has no long-term debt or off-balance sheet arrangements as of September 30, 2025[151] - The company may need to raise additional capital through loans or investments to meet working capital needs, with no assurance that new financing will be available[148] - If a Business Combination is not consummated by August 19, 2026, the company will face mandatory liquidation and dissolution[149] Accounting and Financial Reporting - The fair value of public warrants at issuance amounted to $286,667[159] - The company evaluates and classifies warrant instruments under equity treatment at their assigned fair value[159] - The assessment of warrants considers whether they meet the criteria for equity classification under ASC 815[158] - The company records equity-classified warrants as a component of additional paid-in capital at issuance[159] - The assessment of warrants is conducted at the time of issuance and at each subsequent quarterly period end[158] - The company does not have any quantitative and qualitative disclosures about market risk as it is not required for smaller reporting companies[162] - The company believes that the warrants are freestanding financial instruments pursuant to ASC 480[158] - The FASB issued ASU 2024-03, effective for fiscal years beginning after December 15, 2026, requiring additional disclosures about specific expense categories[160] - The company is currently evaluating the impact of adopting ASU 2024-03[160] - Management does not believe that any other recently issued accounting pronouncements would have a material effect on the financial statements[161]
SilverBox Corp IV(SBXD) - 2025 Q3 - Quarterly Report