SilverBox Capital’s Stephen Kadenacy and Joe Reece

This week, we speak with Joe Reece and Stephen Kadenacy, from the
SilverBox team. Joe and Stephen led the Boxwood Merger Corp. and
SilverBox Engaged Merger Corp. I transactions, as well as
recently priced the SilverBox Corp. III IPO.


We dig into their perspective, having priced SPACs in three very
different market environments. Joe and Steve explain why and how
they maintained their value priorities while IPOing their third
SPAC in the difficult market of early 2023.


The pair also discuss the relative of advantages of having
committed capital from forward purchase agreements at
IPO versus the flexibility of diverse potential PIPE
investors down the road.


What will the landscape look like once the SPAC cycle fully
resets, and what does it take for a sponsor to bank a successful
deal while the current macro conditions exist?


Give it a listen.