UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or Section 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 411, 2022

SilverBox Engaged Merger Corp I

(Exact name of registrant as specified in its charter)

Delaware	001-40118	85-4169699
(State or other jurisdiction of incorporation or organization)	(Commission File Number)	(I.R.S. Employer Identification Number)

1250 S. Capital of Texas Highway Building 2, Suite 285 Austin, TX		78746
(Address of principal executive offices)		(Zip Code)

(512) 575-3637

(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:

x	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 share of Class A common stock, $0.0001 par value, and one-third of one redeemable warrant	SBEAU	The Nasdaq Stock Market LLC
Shares of Class A common stock, included as part of the units	SBEA	The Nasdaq Stock Market LLC
Redeemable warrants included as part of the units, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share	SBEAW	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 or Rule 12b-2 of the Securities Exchange Act of 1934.

Emerging growth company x

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 17.01 ~~Entry~~Regulation ~~into~~FD ~~a Material Definitive Agreement~~Disclosure.

OnAttached ~~January~~as 4,Exhibit ~~2022,~~99.l ~~SilverBox~~and ~~Engaged~~Exhibit ~~Merger~~99.2 ~~Corp~~to I,this aCurrent ~~Delaware~~Report ~~corporation~~on ~~(“SilverBox”)~~Form 8-K, ~~entered~~and incorporated into athis ~~First~~Item ~~Amendment~~7.01 toby ~~Business~~reference, ~~Combination~~are ~~Agreement (~~the ~~“Amendment”)~~Analyst asand anInvestor ~~amendment to~~Day ~~the~~presentation ~~previously~~and ~~announced Business Combination Agreement (~~the ~~“Original~~transcript ~~Agreement”~~of ~~and as amended by~~ the ~~Amendment, the~~recorded Analyst ~~“Business~~and ~~Combination~~Invcstor ~~Agreement”),~~Day ~~dated as of November 2~~presentation, ~~2021~~respectively, byfor ~~and~~use ~~among~~in ~~SilverBox,~~connection ~~Authentic~~with ~~Brands~~the ~~LLC,~~previously aannounced ~~Delaware limited~~Analyst ~~liability company (“Authentic Brands”)~~ and ~~the~~Investor ~~indirect parent of Black Rifle Coffee Company LLC~~Day, ~~a Delaware limited~~scheduled ~~liability~~for ~~company~~January ~~(“BRCC”)~~11, ~~Grand Opal Investment Holdings~~2022, ~~Inc.,~~relating ato ~~Delaware~~the ~~corporation~~previously ~~(“Blocker”),~~announced ~~BRC~~business ~~Inc., a~~combination ~~Delaware corporation and wholly owned direct subsidiary~~ of SilverBox ~~(“PubCo”),~~Engaged ~~SBEA~~ Merger ~~Sub~~Corp ~~LLC~~I, a Delaware ~~limited~~corporation ~~liability company and a wholly owned direct subsidiary of PubCo~~ (“~~Merger Sub 1~~SBEA”), and ~~BRCC~~Authentic ~~Blocker~~Brands ~~Merger Sub~~ LLC, a Delaware limited liability company ~~and a wholly owned direct subsidiary of SilverBox~~ (“~~Merger~~Authentic ~~Sub 2~~Brands”)., ~~Pursuant~~pursuant to the Business Combination Agreement, ~~and~~dated ~~subject~~as toof ~~the~~November ~~terms~~2, ~~and conditions contained therein~~2021, ~~the~~by ~~business~~and ~~combination~~among ~~will~~SBEA, bePubCo, ~~effected~~Authentic inBrands, ~~two~~Grand ~~steps:~~Opal ~~(a)~~Investment ~~SilverBox~~Holdings, ~~will~~Inc., ~~merge~~a ~~with~~Delaware ~~and~~corporation, ~~into~~SBEA Merger Sub ~~1 (the “SilverBox Merger”)~~LLC, ~~with~~a ~~Merger~~Delaware ~~Sub~~limited 1liability ~~surviving~~company ~~the~~and ~~SilverBox Merger as~~ a wholly owned direct subsidiary of PubCo~~; and (b) immediately following the SilverBox Merger~~, ~~Merger Sub 2 will merge with~~ and ~~into~~BRCC Blocker ~~(the “Blocker~~ Merger” ~~and~~Sub LLC, ~~together~~a ~~with~~Delaware ~~the~~limited ~~SilverBox~~liability ~~Merger~~company and ~~all other transactions contemplated by the Business Combination Agreement, the “Business Combination”), with Blocker surviving as~~ a wholly owned direct subsidiary of ~~Merger Sub 1~~SBEA. ~~The Amendment was unanimously approved by SilverBox’s board of directors.~~

The ~~Amendment~~information ~~provides for, among other things, that Authentic Brands will set aside an amount equal to the potential make-whole premium due~~ in ~~respect~~this ofItem ~~the outstanding preferred units of Authentic Brands at the consummation of the Business Combination and~~7.01, ~~within~~including 60Exhibit calendar days after the consummation of the Business Combination, Authentic Brands will either (i) pay such make-whole premium, if any, in cash when due to the former preferred unitholders or (ii) issue (or cause to be issued) additional equity in the form of shares of PubCo Class A common stock at $1099.001 ~~per share~~ and ~~Authentic Brands common units~~Exhibit ~~at $10~~99.002 ~~per~~are ~~unit~~furnished (and, inshall ~~the~~not ~~case~~be ofdeemed ~~Authentic~~“filed” ~~Brands~~for ~~common~~purposes ~~units,~~of ~~accompanied~~Section by18 ~~a corresponding number~~ of ~~shares of PubCo Class B common stock) to~~ the ~~existing~~Securities ~~shareholders~~Exchange ofAct ~~Blocker and existing unitholders~~ of ~~Authentic Brands~~1934, ~~respectively,~~as ~~with an aggregate~~amended ~~value~~(the of“Exchange ~~such~~Act”), ~~additional~~or ~~equity~~otherwise ~~equal~~subject to ~~the~~liabilities ~~amount~~under ~~set aside. The Amendment also clarifies~~ that ~~holders~~section, ofand ~~Authentic~~shall ~~Brands preferred units were~~ not ~~intended~~be todeemed ~~become parties~~ to ~~the~~be ~~Investor~~incorporated ~~Rights~~by reference ~~Agreement~~into ~~with respect to~~ the ~~shares~~filings of ~~common~~SBEA ~~stock~~under ~~they will own in PubCo (representing in~~ the ~~aggregate~~Securities ~~less~~Act ~~than 3%~~ of ~~the~~1933, ~~common stock of PubCo outstanding~~ as ofamended, ~~the~~or ~~closing of~~ the ~~Business~~Exchange ~~Combination)~~Act, ~~and~~ ~~that~~regardless ~~the definition~~ of ~~“Continuing~~any ~~Company~~general ~~Units” in the Business Combination Agreement incorrectly omitted a deduction~~incorporation ~~for~~language ~~the cash portion of the Blocker merger consideration paid~~ in ~~respect~~such ~~of its existing Authentic Brands common units~~filings. ~~The~~This ~~Amendment further~~Current ~~clarifies~~Report ~~that~~on ~~the~~Form ~~cash~~8-K ~~portion~~will ofnot ~~the~~be ~~Blocker~~deemed ~~merger~~an ~~consideration~~admission ~~paid~~as ~~with respect~~ to ~~Blocker’s~~the ~~preferred~~materiality ~~units~~ of ~~Authentic Brands~~any ~~will~~information ~~be taken into account~~ contained in ~~determining~~this ~~the~~Item ~~amount~~7.01, ofincluding ~~cash~~Exhibit ~~initially~~99.1 ~~available to redeem Authentic Brands common units~~ and ~~in calculating~~Exhibit ~~the net equity value of Authentic Brands upon which its continuing equity stake is calculated~~99.2.

All other material terms of the Original Agreement, which was previously filed by SilverBox as Exhibit 2.1 to the Current Report on Form 8-K filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”) on November 2, 2021 (the “November 2 Form 8-K”), remain the same.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by the terms and conditions of the Amendment, a copy of which is attached hereto as Exhibit 2.1 and is incorporated herein by reference. References herein to the Original Agreement are qualified in their entirety by the terms and conditions of the Original Agreement, a copy of which is attached as Exhibit 2.1 to the November 2 Form 8-K and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	~~Description~~	Description
2.1	First Amendment to Business Combination Agreement dated as of January 4, 2022
99.1		Analyst and Investor Day Presentation
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)
99.2		Transcript of Recorded Analyst and Investor Day Presentation
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

Forward-Looking Statements

Certain statements in this Current Report on Form 8-K are forward-looking statements. Forward-looking statements generally relate to future events including future financial or operating performance of Authentic Brands LLC (the “Company”) or SilverBox Engaged Merger Corp I (“SBEA”). Forward-looking statements generally relate to future events or SBEA’s or the Company’s future financial or operating performance. For example, projections of future revenue and other metrics are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.

These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by SBEA and its management, and the Company and its management, as the case may be, are inherently uncertain and are inherently subject to risks, variability and contingencies, many of which are beyond the Company’s control. Factors that may cause actual results to differ materially from current expectations include, but are not limited to: (1) SBEA’s ability to complete the business combination; (2) the outcome of any legal proceedings that may be instituted against SBEA, the combined company or others following the announcement of the business combination and any definitive agreements with respect thereto; (3) the inability to complete the business combination due to the failure to obtain approval of the stockholders of SBEA, to obtain financing to complete the business combination or to satisfy other conditions to closing; (4) changes to the proposed structure of the business combination that may be required or appropriate as a result of applicable laws or regulations or as a condition to obtaining regulatory approval of the business combination; (5) the ability to meet stock exchange listing standards following the consummation of the business combination; (6) the risk that the business combination disrupts current plans and operations of the Company as a result of the announcement and consummation of the business combination; (7) the ability to recognize the anticipated benefits of the business combination, which may be affected by, among other things, competition, the ability of the combined company to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (8) costs related to the business combination; (9) changes in applicable laws or regulations; (10) the possibility that the Company or the combined company may be adversely affected by other economic, business, and/or competitive factors; (11) the Company’s estimates of expenses and profitability; (12) the failure to realize anticipated pro forma results or projections and underlying assumptions, including with respect to estimated stockholder redemptions, purchase price and other adjustments; and (13) other risks and uncertainties set forth in the section entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in SBEA’s final prospectus relating to its initial public offering dated February 25, 2021, in the registration statement on Form S-4 (the “Form S-4”) relating to the business combination filed with the Securities and Exchange Commission (the “SEC”), and in subsequent filings with the SEC, including the final prospectus/proxy statement relating to the business combination. There may be additional risks that neither SBEA nor the Company presently know or that SBEA and the Company currently believe are immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this Current Report on Form 8-K should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Neither SBEA nor the Company undertakes any duty to update these forward-looking statements or to inform the recipient of any matters of which any of them becomes aware of which may affect any matter referred to in this Current Report on Form 8-K.

Additional Information about the Proposed Business Combination and Where to Find It

This Current Report on Form 8-K is being made in respect of the proposed transaction involving SBEA and the Company. In connection with the proposed business combination, BRC Inc. (“PubCo”) has filed a Registration Statement on Form S-4 with the SEC. The Form S-4 includes a preliminary proxy statement of SBEA and a preliminary prospectus of PubCo. After the Form S-4 has been declared effective by the SEC, a proxy statement/prospectus will be sent to all SBEA stockholders as of a record date to be established for voting on the proposed business combination. SBEA also will file other documents regarding the proposed business combination with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS OF SBEA ARE URGED TO READ THE FORM S-4, THE PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS FILED OR THAT WILL BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED BUSINESS COMBINATION AS THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED BUSINESS COMBINATION.

Investors and security holders will be able to obtain free copies of the Form S-4, the proxy statement/prospectus and all other relevant documents filed or that will be filed with the SEC by SBEA through the website maintained by the SEC at www.sec.gov.

Participants in the Solicitation

SBEA, PubCo and their respective directors and executive officers may be deemed participants in the solicitation of proxies from SBEA’s stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in SBEA is contained in SBEA’s final prospectus related to its initial public offering dated February 25, 2021, which was filed with the SEC and is available free of charge at the SEC’s website at www.sec.gov. Additional information regarding the interests of such participants will be contained in the proxy statement/prospectus for the proposed business combination when available.

The Company and its directors and executive officers may also be deemed to be participants in the solicitation of proxies from the stockholders of SBEA in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the proposed business combination has been included in the Form S-4 filed by PubCo with the SEC.

No Offer or Solicitation

This Current Report on Form 8-K is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of SBEA, PubCo or Authentic Brands, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.

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.

Dated: January 411, 2022

	SILVERBOX ENGAGED MERGER CORP I

	By:	/s/ Daniel E. Esters
	Name:	Daniel E. Esters
	Title:	Chief Financial Officer

Filing Compare · SBEA Merger Sub LLC