SEC Comment Letter 0000000000-23-010109 to SILVERspac Inc. (CIK 0001842644)
SILVERspac Inc. (CIK 0001842644)
Date: Sept. 13, 2023 · CIK: 0001842644 · Accession: 0000000000-23-010109
AI Filing Summary & Sentiment
File numbers found in text: 001-40783
Letter
United States securities and exchange commission logo September 13, 2023 Charles Federman Chief Executive Officer and Director SILVERspac Inc. 7 World Trade Center, 10th Floor 250 Greenwich Street New York, NY 10007 Re:SILVERspac Inc. Form 10-K for the year ended December 31, 2022 File No. 001-40783 Dear Charles Federman: We have reviewed your filing and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the year ended December 31, 2022 General 1.With a view toward disclosure, please tell us whether your sponsor is, is controlled by, or has substantial ties with a non-U.S. person. If so, please revise your disclosure in future filings to include disclosure that addresses how this fact could impact your ability to complete your initial business combination. For instance, discuss the risk to investors that you may not be able to complete an initial business combination with a U.S. target company should the transaction be subject to review by a U.S. government entity, such as the Committee on Foreign Investment in the United States (CFIUS), or ultimately prohibited. Disclose that as a result, the pool of potential targets with which you could complete an initial business combination may be limited. Further, disclose that the time necessary for government review of the transaction or a decision to prohibit the transaction could prevent you from completing an initial business combination and require you to liquidate. Disclose the consequences of liquidation to investors, such as the losses of the investment opportunity in a target company, any price appreciation in the combined
FirstName LastNameCharles Federman Comapany NameSILVERspac Inc. September 13, 2023 Page 2 FirstName LastName Charles Federman SILVERspac Inc. September 13, 2023 Page 2 company, and the warrants, which would expire worthless. Please include an example of your intended disclosure in your response.
We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Eric McPhee at 202-551-3693 or Jennifer Monick at 202-551-3295 if you have any questions. Sincerely, Division of Corporation Finance Office of Real Estate & Construction
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United States securities and exchange commission logo
September 13, 2023
Charles Federman
Chief Executive Officer and Director
SILVERspac Inc.
7 World Trade Center, 10th Floor
250 Greenwich Street
New York, NY 10007
Re:SILVERspac Inc.
Form 10-K for the year ended December 31, 2022
File No. 001-40783
Dear Charles Federman:
We have reviewed your filing and have the following comment. In our comment, we
may ask you to provide us with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 10-K for the year ended December 31, 2022
General
1.With a view toward disclosure, please tell us whether your sponsor is, is controlled by, or
has substantial ties with a non-U.S. person. If so, please revise your disclosure in future
filings to include disclosure that addresses how this fact could impact your ability to
complete your initial business combination. For instance, discuss the risk to investors that
you may not be able to complete an initial business combination with a U.S. target
company should the transaction be subject to review by a U.S. government entity, such as
the Committee on Foreign Investment in the United States (CFIUS), or ultimately
prohibited. Disclose that as a result, the pool of potential targets with which you could
complete an initial business combination may be limited. Further, disclose that the time
necessary for government review of the transaction or a decision to prohibit the
transaction could prevent you from completing an initial business combination and require
you to liquidate. Disclose the consequences of liquidation to investors, such as the losses
of the investment opportunity in a target company, any price appreciation in the combined
FirstName LastNameCharles Federman
Comapany NameSILVERspac Inc.
September 13, 2023 Page 2
FirstName LastName
Charles Federman
SILVERspac Inc.
September 13, 2023
Page 2
company, and the warrants, which would expire worthless. Please include an example of
your intended disclosure in your response.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact Eric McPhee at 202-551-3693 or Jennifer Monick at 202-551-3295 if
you have any questions.
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction