Item 8.01 Other Events.

As previously reported on a Current Report on Form 8-K of Starboard Value Acquisition Corp., a Delaware corporation (the "Company"), on September 14, 2020, the Company consummated its initial public offering (the "IPO") of 36,000,000 units (the "Units"). Each Unit consists of one share of Class A common stock, $0.0001 par value per share (the "Class A Common Stock"), and one-sixth of one redeemable warrant of the Company (the "Detachable Redeemable Warrants"). In addition, each share of Class A Common Stock issued in the IPO carries a contingent right to receive at least one-sixth of one redeemable warrant following the initial business combination redemption time under certain circumstances and subject to adjustment (the "Distributable Redeemable Warrants", and with the Detachable Redeemable Warrants, the "Redeemable Warrants"). Each whole Redeemable Warrant entitles the holder thereof to purchase one share of Class A Common Stock at an exercise price of $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 $360,000,000. The Company granted the underwriters in the IPO (the "Underwriters") a 45-day option to purchase up to 5,400,000 additional Units to cover over-allotments, if any. On September 18, 2020, the Underwriters partially exercised the over-allotment option and on September 23, 2020, purchased an additional 4,423,453 Units (the "Over-Allotment Units"), generating gross proceeds of $44,234,530.

As previously reported on a Current Report on Form 8-K of the Company, simultaneously with the closing of the IPO, the Company completed the private sale (the "Private Placement") of an aggregate of 6,133,333 warrants (the "Private Placement Warrants") to SVAC Sponsor LLC, a Delaware limited liability company (the "Sponsor"), at a purchase price of $1.50 per Private Placement Warrant, generating gross proceeds to the Company of $9,200,000. In connection with the Underwriters' partial exercise of their over-allotment option, the Sponsor purchased an additional 589,794 Private Placement Warrants, generating gross proceeds to the Company of $884,691.

In connection with the closing and sale of the Over-Allotment Units and 589,794 additional Private Placement Warrants (together, the "Over-Allotment Closing"), a total of $44,234,530 comprised of $43,571,012 of the proceeds from the closing and sale of the Over-Allotment Units and the reimbursement of expenses to the Company pursuant to the underwriting agreement related to the IPO (which amount includes $1,990,554 of the Underwriters' deferred discount) and $663,518 of the proceeds of the sale of the additional 589,794 Private Placement Warrants, was placed in a U.S.-based trust account, with Continental Stock Transfer & Trust Company acting as trustee.

An audited balance sheet as of September 14, 2020 reflecting receipt of the proceeds upon consummation of the IPO and the Private Placement has been issued by the Company and previously filed as Exhibit 99.1 to a Current Report on Form 8-K on September 18, 2020. The Company's unaudited pro forma balance sheet as of September 14, 2020, adjusted for the Over-Allotment Closing on September 23, 2020 is attached as Exhibit 99.1 to this Current Report on Form 8-K.

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