SilverBox Corp IV(SBXD) - 2025 Q4 - Annual Report

Financial Performance - For the year ended December 31, 2025, the company reported a net income of $5,715,932, which included interest earned on investments held in the Trust Account of $8,692,532, offset by general and administrative costs of $2,923,600 and compensation expense of $53,000 [400]. - The company has not generated any revenues to date and does not expect to do so until after the completion of its Business Combination [399]. Investments and Cash Position - As of December 31, 2025, the company had investments held in the Trust Account amounting to $213,347,170, including approximately $12,347,170 of interest income [405]. - As of December 31, 2025, the company had cash of $20,931, intended for identifying and evaluating target businesses [406]. Initial Public Offering - The company completed its Initial Public Offering on August 19, 2024, raising gross proceeds of $200 million from the sale of 20,000,000 units at $10.00 per unit [402]. - The underwriters received a cash underwriting discount of $1,700,000, which is 0.85% of the gross proceeds from the Initial Public Offering [414]. Operating Activities - Cash used in operating activities for the year ended December 31, 2025, was $988,431, with changes in operating assets and liabilities using $1,935,169 of cash [403]. - The company has no long-term debt or capital lease obligations, with a monthly payment of $15,000 to the Sponsor for administrative services [413]. Future Considerations - 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 [410]. - If a business combination is not completed by August 19, 2026, the company will face mandatory liquidation and dissolution [411]. Accounting and Market Risk - Management does not anticipate that recently issued accounting standards will materially affect the Company's financial statements [421]. - Quantitative and qualitative disclosures about market risk are not required for smaller reporting companies [422]. Fair Value of Warrants - The fair value of public warrants at issuance amounted to $286,667 [420].