Silverbox Engaged Sponsor Llc - May 3, 2022 Form 4 Insider Report for BRC Inc. (BRCC)

Role
10%+ Owner
Signature
Joseph Reece, as Authorized Signatory of SilverBox Capital LLC, as managing member SilverBox Engaged Sponsor LLC
Stock symbol
BRCC
Transactions as of
May 3, 2022
Transactions value $
$26,016,059
Form type
4
Date filed
5/11/2022, 04:05 PM
Previous filing
Apr 12, 2022
Next filing
Aug 11, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BRCC Class A Common Stock Options Exercise $26M +2.26M +37.37% $11.50 8.32M May 3, 2022 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects the exercise of warrants on a cashless basis pursuant to the Warrant Agreement, dated as of February 25, 2021 (the "Warrant Agreement"), by and between SilverBox Engaged Merger Corp I and Continental Stock Transfer & Trust Company (the "Warrant Agent"), as assumed by the Issuer pursuant to that certain Warrant Assumption Agreement, dated as of February 9, 2022, by and between the Issuer and the Warrant Agent. The number of shares of Class A common stock issuable upon cashless exercise of the warrants was determined in accordance with Section 3.3.1(c) of the Warrant Agreement and the Sponsor Letter Agreement, dated as of November 2, 2021, by and between the Issuer, Authentic Brands LLC and SilverBox Engaged Sponsor LLC, by multiplying (i) the number of shares of Class A common stock underlying the warrants by (ii) 0.361.
F2 SilverBox Capital LLC is the managing member of SilverBox Engaged Sponsor LLC, and Mr. Reece and Mr. Kadenacy are each a principal of SilverBox Capital LLC. As such, they may be deemed to have or share beneficial ownership of the Class A common stock held directly by SilverBox Engaged Sponsor LLC. Such person disclaims any beneficial ownership of the reported shares other than to the extent of any pecuniary interest such person may have therein, directly or indirectly.