NYSE Regulation Moves to Delist Three SilverBox Corp IV Securities

The New York Stock Exchange said in a September 25, 2026 announcement that staff of NYSE Regulation has determined to commence proceedings to delist the three securities of SilverBox Corp IV (SBXD ) from the exchange, with trading in the securities suspended immediately. NYSE Regulation reached its decision under Section 802.01B of the NYSE Listed Company Manual because the company had fallen below the NYSE’s continued listing standard requiring a listed acquisition company to maintain an average aggregate global market capitalization attributable to its publicly-held shares over a consecutive 30 trading day period of at least US$40 million.

The securities are the company’s Class A ordinary shares, par value $0.0001 per share (SBXD); units, each consisting of one Class A ordinary share and one-third of one redeemable warrant (SBXDU); and redeemable warrants included as part of the units, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 (SBXD WS).

August Redemptions Cut the Trust Account to $10.5 Million

SilverBox Corp IV is a blank check company incorporated as a Cayman Islands exempted corporation on April 16, 2024, with principal executive offices in Austin, Texas. Its sponsor is SilverBox Sponsor IV LLC, a Delaware limited liability company. The company consummated its initial public offering on August 19, 2024, selling 20,000,000 units at $10.00 per unit, and placed $201 million ($10.05 per unit) from the net proceeds into a trust account with Continental Stock Transfer & Trust Company acting as trustee, according to the company’s Form 10-Q for the quarter ended June 30, 2026, filed with the Securities and Exchange Commission on August 12, 2026.

As of June 30, 2026, investments held in the trust account totaled $217,134,228, and the 20,000,000 Class A ordinary shares subject to possible redemption carried a redemption value of $10.86 per share. Outside the trust, the company held $15,104 in cash and reported a working capital deficit of $497,133. The company said its liquidity condition and mandatory liquidation within one year raised substantial doubt about its ability to continue as a going concern. For the three months ended June 30, 2026, the company reported net income of $1,655,077, which included $1,917,033 of interest earned on investments held in the trust account.

At an extraordinary general meeting on August 11, 2026, 21,395,701 shares (84.05%) were represented, and an extension proposal was approved with 18,578,574 votes in favor, 2,817,127 against, and no abstentions, according to the 10-Q’s subsequent-events disclosure. In connection with the meeting, shareholders redeemed 19,000,000 Class A ordinary shares at $10.85 per share for an aggregate redemption amount of $206.6 million, leaving $10.5 million of investments in the trust account. On August 12, 2026, 4,999,999 Class B founder shares converted into Class A ordinary shares on a one-for-one basis (subsequent-events detail); as of that date, the company had 6,422,333 Class A ordinary shares and one Class B ordinary share issued and outstanding.

The 10-Q states that the company’s combination period, following the extension, runs to April 15, 2027, and that if the company does not consummate an initial business combination by the end of that period, there will be a mandatory liquidation and subsequent dissolution of the company.

Pending Parataxis Business Combination

On August 6, 2025, SilverBox Corp IV entered into a business combination agreement with Parataxis Holdings Inc., the Delaware corporation that will become the publicly listed company upon completion of the proposed transaction; PTX Merger Sub I Inc. and PTX Merger Sub II LLC, wholly owned subsidiaries of Parataxis Holdings Inc.; Parataxis Holdings LLC, a Delaware limited liability company; the sponsor, solely for certain limited purposes as representative of the SPAC shareholders; and Edward Chin, solely for certain limited purposes as representative of the Parataxis members. Under the agreement, PTX Merger Sub I will merge with and into SilverBox Corp IV and PTX Merger Sub II will merge with and into Parataxis Holdings LLC, leaving both as wholly owned subsidiaries of Parataxis Holdings Inc. Prior to the SPAC merger, the company will de-register from the Register of Companies in the Cayman Islands and re-domicile as a Delaware corporation.

Parataxis Holdings Inc. and Parataxis Holdings LLC, an affiliate of Parataxis Capital Management LLC, filed a registration statement on Form S-4 (File No. 333-289994) for the proposed combination on September 3, 2025, according to a Form 8-K filed the following day. The filing states that the registration statement, which contains a preliminary proxy statement of SilverBox and a prospectus of Parataxis Holdings Inc., had not yet become effective and that its information was subject to change.

On August 4, 2026, the parties entered into a second amendment to the business combination agreement that extended the outside date from August 6, 2026, to December 31, 2026, according to a Form 8-K filed on August 5, 2026. The amendment provides that if SilverBox seeks and receives an extension of the deadline by which it must consummate its initial business combination, SilverBox and Parataxis may each, by written notice, further extend the outside date by a period equal to the shorter of the period ending on the last day of such extension and a period mutually agreed upon by the parties.

In connection with the proposed combination, SilverBox engaged Santander US Capital Markets LLC on August 6, 2025, to provide capital markets advisory services under an engagement letter providing for up to $10.3 million in total fees due and payable upon successful completion of the transaction. On August 28, 2025, SilverBox and Santander entered into an amendment of the underwriting agreement that reduced the total deferred underwriting fee from $10.3 million to $6.03 million, the total amount owed to Santander at the closing of the proposed combination, according to the 10-Q.

SilverBox Corp IV has a right to a review of the delisting determination by a Committee of the Board of Directors of the Exchange. The NYSE said it will apply to the Securities and Exchange Commission to delist the securities upon completion of all applicable procedures, including any appeal by the company of the NYSE Regulation staff’s decision.