SilverBox Engaged Merger Corp I up on deal to take Utah coffee co public

BRC

02/11/2021 11:06

** Shares of blank-check co  SBEA.O  up 4% at $10.21
premarket
    ** Co to take Black Rifle Coffee Company (BRCC) public in
$1.7 bln deal  urn:newsml:reuters.com:*:nBwbYrmM3a
    ** Salt Lake City, Utah- based BRCC, founded in 2014 by a
military veteran, has both a retail and a wholesale arm
    ** Through its retail franchise, BRCC sells its product
through its website and via coffee shops
    ** Deal will result in $225 mln of cash proceeds for BRCC,
companies say
    ** Co's founders, management and existing stockholders'
shares are subject to forfeiture based on performance, BRCC says
    ** BRCC expects 2021 revenue to grow nearly 40% to $230 mln
    ** SBEA raised $345 mln in a March IPO

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))