Attached files

file filename
EX-99.1 - PRESS RELEASE, DATED SEPTEMBER 9, 2021 - SILVERspac Inc.ea147209ex99-1_silverspac.htm
EX-10.12 - INDEMNITY AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND HAGI SCHWA - SILVERspac Inc.ea147209ex10-12_silverspac.htm
EX-10.11 - INDEMNITY AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND DAVID SABL - SILVERspac Inc.ea147209ex10-11_silverspac.htm
EX-10.10 - INDEMNITY AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND DANA ROFFM - SILVERspac Inc.ea147209ex10-10_silverspac.htm
EX-10.9 - INDEMNITY AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND BONNIE KIN - SILVERspac Inc.ea147209ex10-9_silverspac.htm
EX-10.8 - INDEMNITY AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND DAVID Z. H - SILVERspac Inc.ea147209ex10-8_silverspac.htm
EX-10.7 - INDEMNITY AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND TAL KERRET - SILVERspac Inc.ea147209ex10-7_silverspac.htm
EX-10.6 - INDEMNITY AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND CHARLES FE - SILVERspac Inc.ea147209ex10-6_silverspac.htm
EX-10.5 - SPONSOR WARRANTS PURCHASE AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPAN - SILVERspac Inc.ea147209ex10-5_silverspac.htm
EX-10.4 - OFFICE SPACE AND INDEMNIFICATION AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE - SILVERspac Inc.ea147209ex10-4_silverspac.htm
EX-10.3 - REGISTRATION RIGHTS AGREEMENT, DATED SEPTEMBER 9, 2021, AMONG THE COMPANY, THE S - SILVERspac Inc.ea147209ex10-3_silverspac.htm
EX-10.2 - INVESTMENT MANAGEMENT TRUST AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMP - SILVERspac Inc.ea147209ex10-2_silverspac.htm
EX-10.1 - LETTER AGREEMENT, DATED SEPTEMBER 9, 2021, AMONG THE COMPANY, THE SPONSOR AND TH - SILVERspac Inc.ea147209ex10-1_silverspac.htm
EX-4.1 - WARRANT AGREEMENT, DATED SEPTEMBER 9, 2021, BETWEEN THE COMPANY AND CONTINENTAL - SILVERspac Inc.ea147209ex4-1_silverspac.htm
EX-3.1 - AMENDED AND RESTATED MEMORANDUM AND ARTICLES OF ASSOCIATION OF THE COMPANY - SILVERspac Inc.ea147209ex3-1_silverspac.htm
EX-1.1 - UNDERWRITING AGREEMENT, DATED SEPTEMBER 9, 2021, AMONG THE COMPANY, GOLDMAN SACH - SILVERspac Inc.ea147209ex1-1_silverspac.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): September 14, 2021

 

SILVERspac Inc.

(Exact name of registrant as specified in its charter)

 

 

 

Cayman Islands   001-40207   98-1578303
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (I.R.S. Employer
Identification No.)

 

7 World Trade Center, 10th Floor
250 Greenwich Street
New York, New York
  10007
(Address of principal executive offices)   (Zip Code)

 

(212) 312-9265

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

 

Title of each class  

Trading Symbol(s)

 

Name of each exchange
on which registered

Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant   SLVRU   The Nasdaq Stock Market LLC
Class A ordinary shares, par value $0.0001 per share   SLVR   The Nasdaq Stock Market LLC
Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50   SLVRW   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☑

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 8.01  Other Events.

 

On September 14, 2021, SILVERspac Inc. (the “Company”) consummated its initial public offering (the “IPO”) of 25,000,000 units (the “Units”). Each Unit consists of one Class A ordinary share of the Company, par value $0.0001 per share (an “Ordinary Share”), and one-third of one redeemable warrant of the Company. Each whole warrant entitles the holder thereof to purchase one Ordinary Share for $11.50 per share, subject to adjustment. The Units were sold at a price of $10.00 per Unit, generating gross proceeds to the Company of $287,500,000. The Company granted the underwriters in the IPO a 45-day option to purchase up to 3,750,000 additional Units solely to cover over-allotments, if any.

 

Substantially concurrently with the closing of the IPO, the Company completed the private sale of 4,666,667 warrants (the “Private Placement Warrants”) at a purchase price of $1.50 per Private Placement Warrant, to the Company’s sponsor, SILVERspac Sponsor LLC, a Delaware limited liability company (the “Sponsor”), generating gross proceeds to the Company of $7,000,000. The Private Placement Warrants are identical to the warrants sold as part of the Units in the IPO except that, so long as they are held by the Sponsor or its permitted transferees: (1) they will not be redeemable by the Company (except in certain redemption scenarios when the price per Ordinary Share equals or exceeds $10.00 (as adjusted)); (2) they (including the Ordinary Shares issuable upon exercise of these warrants) may not, subject to certain limited exceptions, be transferred, assigned or sold by the Sponsor until 30 days after the completion of the Company’s initial business combination; (3) they may be exercised by the holders on a cashless basis; and (4) they (including the Ordinary Shares issuable upon exercise of these warrants) are entitled to registration rights.

 

A total of $250,000,000, comprised of proceeds from the IPO and the sale of the Private Placement Warrants, were placed in a U.S.-based trust account at J.P. Morgan Chase Bank, N.A., maintained by Continental Stock Transfer & Trust Company, acting as trustee. Except with respect to interest earned on the funds held in the trust account that may be released to the Company to pay its taxes, if any, the funds held in the trust account will not be released from the trust account until the earliest to occur of: (1) the completion of the Company's initial business combination; (2) the redemption of any public shares properly submitted in connection with a shareholder vote to amend the Company's amended and restated memorandum and articles of association (A) to modify the substance or timing of the Company's obligation to allow redemption in connection with its initial business combination or to redeem 100% of its public shares if the Company does not complete its initial business combination within 24 months from the closing of the IPO or (B) with respect to any other provision relating to shareholders’ rights or pre-initial business combination activity; and (3) the redemption of the Company's public shares if the Company has not completed its initial business combination within 24 months from the closing of the IPO, subject to applicable law.

 

In connection with the IPO, the Company entered into the following agreements, the forms of which were previously filed as exhibits to the Company registration statement (File No. 333-253161):

 

  Amended and Restated Memorandum and Articles of Association of the Company.

 

  Underwriting Agreement, dated September 9, 2021, among the Company, Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.

 

  Warrant Agreement, dated September 9, 2021, between the Company and Continental Stock Transfer & Trust Company, as warrant agent.

 

  Letter Agreement, dated September 9, 2021, among the Company, the Sponsor and the Company’s officers and directors.

 

  Investment Management Trust Agreement, dated September 9, 2021, between the Company and Continental Stock Transfer & Trust Company, as trustee.

 

  Registration Rights Agreement, dated September 9, 2021, among the Company, the Sponsor and certain other security holders named therein.

 

1

 

 

Office Space and Indemnification Agreement, dated September 9, 2021, between the Company, the Sponsor and Silverstein Properties LLC.
   
Sponsor Warrants Purchase Agreement, dated September 9, 2021, between the Company and the Sponsor.
   
Indemnity Agreement, dated September 9, 2021, between the Company and Charles Federman.
   
Indemnity Agreement, dated September 9, 2021, between the Company and Tal Kerret.
   
Indemnity Agreement, dated September 9, 2021, between the Company and David Z. Hirsh.
   
Indemnity Agreement, dated September 9, 2021, between the Company and Bonnie Kintzer.
   
Indemnity Agreement, dated September 9, 2021, between the Company and Dana Roffman.
   
Indemnity Agreement, dated September 9, 2021, between the Company and David Sable.
   
Indemnity Agreement, dated September 9, 2021, between the Company and Hagi Schwartz.

 

On September 9, 2021, the Company issued a press release, a copy of which is attached as Exhibit 99.1 to this Current Report on Form 8-K, announcing the pricing of the IPO.

 

Item 9.01  Financial Statements and Exhibits.

 

(d) Exhibits. The following exhibits are filed with this Form 8-K:

 

Exhibit No.   Description of Exhibits
1.1   Underwriting Agreement, dated September 9, 2021, among the Company, Goldman Sachs & Co. LLC and Citigroup Global Markets Inc.
3.1   Amended and Restated Memorandum and Articles of Association of the Company.
4.1   Warrant Agreement, dated September 9, 2021, between the Company and Continental Stock Transfer & Trust Company, as warrant agent.
10.1   Letter Agreement, dated September 9, 2021, among the Company, the Sponsor and the Company’s officers and directors.
10.2   Investment Management Trust Agreement, dated September 9, 2021, between the Company and Continental Stock Transfer & Trust Company, as trustee.
10.3   Registration Rights Agreement, dated September 9, 2021, among the Company, the Sponsor and certain other security holders named therein.
10.4   Office Space and Indemnification Agreement, dated September 9, 2021, between the Company, the Sponsor and Silverstein Properties LLC.
10.5   Sponsor Warrants Purchase Agreement, dated September 9, 2021, between the Company and the Sponsor.
10.6   Indemnity Agreement, dated September 9, 2021, between the Company and Charles Federman.
10.7   Indemnity Agreement, dated September 9, 2021, between the Company and Tal Kerret.
10.8   Indemnity Agreement, dated September 9, 2021, between the Company and David Z. Hirsh.
10.9   Indemnity Agreement, dated September 9, 2021, between the Company and Bonnie Kintzer.
10.10   Indemnity Agreement, dated September 9, 2021, between the Company and Dana Roffman.
10.11   Indemnity Agreement, dated September 9, 2021, between the Company and David Sable.
10.12   Indemnity Agreement, dated September 9, 2021, between the Company and Hagi Schwartz.
99.1   Press Release, dated September 9, 2021.

 

2

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  SILVERspac Inc.
   
Date: September 14, 2021 By: /s/ Charles Federman
  Name:  Charles Federman
  Title: Chief Executive Officer and Secretary

 

 

3