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
$250,000,000. 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, generating gross proceeds to the Company of $7,000,000.
A total of $250,000,000, comprised of proceeds from the IPO and the sale of the
Private Placement Warrants, was 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. An audited balance sheet as of September 14, 2021
reflecting receipt of the proceeds upon consummation of the IPO and the sale of
the Private Placement Warrants has been issued by the Company and is included as
Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. The following exhibits are filed with this Form 8-K:
Exhibit No. Description of Exhibits
99.1 Audited Balance Sheet, as of September 14, 2021
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