Black Rifle Coffee SPAC shoots up; shareholder meeting in focus

BRC

03/02/2022 19:13

** Shares of SPAC SilverBox Engaged Merger Corp I  SBEA.O 
jump ~23% to $11.35 on Thurs with trading volume accelerating
significantly since midday
    ** SBEA last up 15.7% at $10.69; about 1.1 mln shares have
exchanged hands on the session
    ** Early Weds, the special-purpose acquisition company
(SPAC) said it expected business combination with Black Rifle
Coffee Company (BRCC) to be approved by shareholders following a
meeting held today (Feb 3) at 10:00 am ET  urn:newsml:reuters.com:*:nBw452dHja
    ** Co said transaction anticipated to close on Feb 9 subject
to approval, and provide BRCC $373 mln of gross proceeds
    ** The $1.7 bln deal announced in Nov with BRCC, coffee
seller that focuses on military veterans, was to provide it with
$545 mln of capital  urn:newsml:reuters.com:*:nL4N2RT2KP
    ** Salt Lake City, Utah-based BRCC, which sells its product
through its website and shops, founded in 2014 by former U.S.
Green Beret soldier Evan Hafer
    ** SBEA raised $345 mln in its March 2021 IPO

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))