SALT LAKE CITY & AUSTIN, Texas, USA – SilverBox Engaged Merger Corp I (Nasdaq: SBEA), a special purpose acquisition company that is sponsored by SilverBox Capital LLC and Engaged Capital LLC, announced on February 2nd, 2022, that it expects to close its previously announced business combination (the “Business Combination”) with Authentic Brands LLC, the parent company of Black Rifle Coffee Company (“Black Rifle Coffee,” “BRCC” or the “Company”), a rapidly growing and mission-driven premium coffee company founded to support Veterans, active-duty military and first responders, and serve an expanding customer base by connecting consumers with great coffee and a unique brand experience.
The closing of the Business Combination will follow a special meeting (the “Special Meeting”) of SBEA stockholders to be held at 10:00 am Eastern Time on February 3, 2022. Proxies received to date indicate stockholders’ support for all proposals to be voted on at the Special Meeting. Additional details regarding the proposals and the Special Meeting are available in the definitive proxy statement/prospectus relating to the Special Meeting. Stockholders can view SBEA’s definitive proxy statement/prospectus at the link here.
The transaction is anticipated to close on February 9, 2022, subject to stockholder approval of the Business Combination and related matters at the Special Meeting and the satisfaction of the other closing conditions, and is expected to provide at least $373 million of gross proceeds, providing capital to accelerate the implementation of Black Rifle Coffee’s digital-first, omnichannel strategy and support continued rapid growth.
“We are incredibly excited to partner with Black Rifle Coffee and its management team to help the Company accelerate growth, deepen its customer engagement and drive greater impact,” said Joe Reece, Executive Chairman of SBEA. “Evan, Tom and the rest of the team are great partners, and we believe the Company has a compelling opportunity to continue its growth trajectory.”
“The expected proceeds from the transaction will provide us with the growth capital to continue investing in our omnichannel strategy, and support our mission, including our long-term goal to hire 10,000 Veterans,” said Evan Hafer, Chief Executive Officer of BRCC. “We are thrilled to begin the journey as a publicly traded company on the New York Stock Exchange with our partners at SBEA.”
Following the consummation of the Business Combination, the Company is expected to trade on the New York Stock Exchange under the ticker symbol “BRCC.”
Important Information
Neither the SEC nor any state securities commission has approved or disapproved of the securities to be issued in connection with the Business Combination, or determined if the proxy statement/prospectus is accurate or adequate.
