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Podcast: Black Rifle Coffee and SilverBox Engaged Merger (SBEA) Talk Deal

Black Rifle Co-CEO Tom Davin and SilverBox Engaged Merger Corp (SBEA) executive chairman Joe Reece discuss their pending SPAC merger

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Tom Davin is the Co-CEO of Black Rifle Coffee. Tom is also a former US Marine that has a long history in both running both restaurants and consumer companies having been in leadership roles at Taco Bell, Panda Express, Pepsi and 5.11.

Joe Reece, is the executive chairman of the SilverBox Engaged SPAC, who is merging with Black Rifle. 

They both joined the Know Who Drives Return to discuss Black Rifle Coffee, the merger, and their vision for the company. 

Check out the full Boardroom Alpha writeup and podcast here.

Key Points

  • Mission-driven with extremely loyal customer base, low churn and high net promoter scores
  • Plans to expand beyond subscription coffee with expansion of physical stores, ready to drink (RTD) product, and wholesale
  • Strong branding and recognition, supplementing core business with merchandising
  • History of operations and growth in restaurants from Tom Davin, and a leadership team built of Veterans
  • Significant competition in the beverage space, capital intensive to build physical outposts
  • Low growth projections for subscription part of the business
  • $300M of guaranteed financing consisting of $100M PIPE, $100M FPA, and $100M share backstop to meet min cash conditions

SilverBox Engaged Merger Corp (SBEA) shares are hovering around NAV as the company approaches its merger vote on February 3rd. 

SBEA shares are trading around the SPAC NAV of $10

SBEA shares are trading around the SPAC NAV of $10

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(Disclaimers: this is not investment advice. The author may be long one or more stocks mentioned in this report.)