SilverBox Engaged Merger Corp I am pleased to announce the closing of a business combination with Black Rifle Coffee Company

SALT LAKE CITY & AUSTIN, Texas–(BUSINESS WIRE)–SilverBox Engaged Merger Corp I (Nasdaq: SBEA) (“SilverBox-Engaged” or “we”), a special purpose acquisition company sponsored by SilverBox Capital LLC (“SilverBox Capital”) and Engaged Capital LLC (“ Engaged Capital”), today announced the closing of its business combination with Authentic Brands LLC, the parent company of Black Rifle Coffee Company (“Black Rifle Coffee” or “BRCC”), a premium coffee company fast growing and mission driven founded to support veterans, active duty military, first responders and serve a growing customer base by providing consumers with great coffee and a unique brand experience.

Effective from the closing of the transaction, which was approved by SBEA shareholders on February 3, 2022, the new combined company is named “BRC Inc.” (the “Company”). and the Company’s warrants are expected to begin trading under the new ticker symbols, “BRCC” and “BRCC WS”, respectively, on the New York Stock Exchange (“NYSE”).

To celebrate the listing, BRCC Founder Evan Hafer, Co-Chief Executive Officer Tom Davin, and several U.S. Army veterans, including Purple Heart recipients, will ring the opening bell at the NYSE at the market opening tomorrow, Thursday, February 10, 2022.

Evan Hafer, CEO and Founder of BRCC, said:

“Black Rifle Coffee started with a simple premise: to provide a high quality product while giving back to the veteran, military, and first responder communities. Our entry into the public market is an important step on our path to further grow the business and continue to serve premium coffee and media to those who love America. This is an incredibly exciting time for the management team, employees, partners and, of course, our customers at DCCB. The BRCC is well positioned to continue investing in our mission-driven omnichannel strategy and accelerate progress toward our goal of hiring 10,000 veterans as we expand our presence in cafes across the United States.

The business combination is expected to provide BRCC with approximately $150 million in cash to support the implementation of its digital-focused omnichannel strategy and continued rapid growth.

Joe Reece, Executive Chairman of SBEA, said:

“The entire SilverBox-Engaged team is proud to be part of Black Rifle Coffee’s mission and growth story. We are delighted that our investors have overwhelmingly supported the merger with this fast-growing premium coffee company and lifestyle brand with significant growth potential. We carefully selected BRCC after identifying and evaluating approximately 200 quality merger candidates because of its solid foundation for sustainable growth, its loyal customer base and its management team’s relentless focus on execution. We look forward to continuing our partnership as long-term owners and supporters of the company’s mission. »

Together, BRCC and SilverBox-Engaged are donating more than 530,000 shares to the BRCC Fund, the company’s foundation that supports its mission to improve the lives of veterans, active duty military personnel and first responders.

Advisors

William Blair served as lead financial advisor and BDT & Company, LLC served as financial advisor to Black Rifle Coffee.

Citigroup and Deutsche Bank Securities Inc. acted as lead capital markets advisors, and Guggenheim Securities, LLC, Raymond James & Associates, Inc., Truist Securities, Inc., DA Davidson & Co. and Telsey Advisory Group acted as capital markets advisers for SilverBox. -Engaged.

Kirkland & Ellis LLP served as legal counsel to Black Rifle Coffee. Paul Hastings served as SilverBox-Engaged’s legal counsel.

About the Black Rifle Coffee Company

Black Rifle Coffee Company (BRCC) is a veteran-founded coffee company that serves premium coffee to people who love America. Founded in 2014 by Green Beret Evan Hafer, Black Rifle grows their explosive roast profiles with the same mission focus they learned while serving in the military. BRCC is committed to supporting veterans, active duty military, first responders, and the American way of life.

To learn more about BRCC, visit www.blackriflecoffee.com, follow BRCC on social media or subscribe to Coffee or Die Magazine’s daily newsletter at https://coffeeordie.com/presscheck-signup.

About SilverBox Engaged Merger Corp I and SilverBox Capital

SilverBox Engaged Merger Corp I (“SBEA” or “SilverBox-Engaged”) is a special purpose acquisition company (“SPAC”) formed under a long-term vision shared by SilverBox Capital LLC and Engaged Capital LLC to create a platform institutional company to sponsor a series of SPACs. SBEA completed its initial public offering of $345 million in March 2021 and its shares currently trade on Nasdaq under the symbol “SBEA”. The SilverBox-Engaged team, along with a strong advisory group of well-known, seasoned operating executives from various industries, provides multi-faceted collective expertise, investment and operating experience, and an extensive network of relationships. to find, evaluate and execute potential transactions. . Learn more at www.sbcap.com.

About Committed Capital

Engaged Capital, LLC (“Engaged Capital”) is an investment advisor with a private equity-like investment style in the US equity markets. Engaged Capital seeks to help build sustainable businesses that create long-term shareholder value by engaging and bringing an owner’s perspective to management and boards of undervalued public companies and by working with them to unlock the intrinsic value of their businesses. Engaged Capital manages approximately $1.5 billion of institutional capital with a focus on delivering superior, long-term, risk-adjusted returns for our limited partners. Engaged Capital was established in 2012 and is based in Newport Beach, California. To learn more, visit www.engagedcapital.com.

Forward-looking statements

Certain statements contained in this press release are forward-looking statements. Forward-looking statements generally relate to future events, including the future financial or operating performance of the Company. For example, projections of future earnings and other measures are forward-looking statements. In some cases, you can identify forward-looking statements by words such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential” or “continue”, or the negative terms of these terms or variations thereof or similar terminology. These 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 on estimates and assumptions which, although considered reasonable by the Company and its management, as applicable, are inherently uncertain and are inherently subject to risks, fluctuations and contingencies. , many of which are beyond the capabilities of the Company. control. Factors that could cause actual results to differ materially from current expectations include, but are not limited to: (1) the outcome of any legal proceedings that may be brought against SBEA, the Company or others at following the announcement of the business combination and any final decision, the related agreements; (2) the ability to meet stock exchange listing standards after completion of the business combination or to maintain such standards after initial listing; (3) the risk that the business combination will disrupt the Company’s current plans and operations due to the completion of the business combination; (4) the ability to recognize the expected benefits of the business combination, which may be affected by, among other things, competition, the Company’s ability to grow and manage growth profitably, maintain key relationships and retain its management and key employees; (5) costs related to the business combination; (6) changes in applicable laws or regulations; (7) the possibility that the Company will be adversely affected by other economic, business and/or competitive factors; (8) estimates of the Company’s expenses and profitability; (9) failure to achieve anticipated pro forma results or projections and underlying assumptions, including with respect to estimated shareholder redemptions, purchase price and other adjustments; and (10) other risks and uncertainties set forth in the sections titled “Risk Factors” and “Caution Regarding Forward-Looking Statements” in BRC Inc.’s final prospectus relating to the business combination dated January 13, 2022 filed. with securities. and Exchange Commission (the “SEC”) and subsequent filings with the SEC. There may be additional risks that the Company is not currently aware of or that it currently considers to be immaterial that could also cause actual results to differ from those contained in the forward-looking statements.

Nothing in this press release should be taken as a representation by anyone that the forward-looking statements set forth herein will be realized or that any of the results contemplated by 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 to update these forward-looking statements or to notify the recipient of any matter of which either becomes aware that may affect any matter referred to in this press release.