The balance sheet shows a critical liquidity position with a current ratio of 0.24 and a retained earnings deficit that has deepened to $13.3M as of 2026Q1.
| Total Current Assets | 108.21K | 138.88K | 937.15K |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 0 | 0 | 0 |
| Total Non-Current Assets | 215.22M | 213.35M | 204.72M |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 419.87M | 213.35M | 0 |
| Other Non-Current Assets | - | - | - |
| Total Assets | 215.33M | 213.49M | 205.66M |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 0% | 3.81% | - |
| Total Current Liabilities | 450.25K | 278.65K | 125.36K |
| Accounts Payable | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 450.25K | 278.65K | 0 |
| Current Ratio | 0.24x | 0.50x | 7.48x |
| Quick Ratio | 0.24x | 0.50x | 7.48x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 12.98M | 12.69M | 10.78M |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 13.43M | 12.97M | 10.91M |
| Total Debt | 0 | 0 | 0 |
| Net Debt | -2.37K | -20.93K | -819.36K |
| Debt / Equity | 0.00x | - | - |
| Debt / EBITDA | -0.00x | - | - |
| Net Debt / EBITDA | 0.00x | - | -0.24x |
| Interest Coverage | - | - | - |
| Total Equity | 201.89M | 200.52M | 194.75M |
| Equity Growth % | 0% | 2.96% | - |
| Book Value per Share | 9.87 | 9.80 | 7.65 |
| Total Shareholders' Equity | 201.89M | 200.52M | 194.75M |
| Common Stock | 215.22M | 213.35M | 204.66M |
| Retained Earnings | -13.32M | -12.83M | -9.9M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Failed Business Combination Risk
As reported in recent financial filings, SBXD's cash position plummeted to a nominal $2,400 by 2026Q1, resulting in a critical current ratio of 0.24 that suggests the entity lacks the necessary liquid assets to sustain its ongoing administrative search activities without immediate external capital injections.
The rapid depletion of cash reserves from $819.4K in 2024Q4 to near-zero levels indicates that the company is exhausting its working capital at an unsustainable pace. This liquidity profile implies that the entity may be forced to rely on sponsor loans or dilutive financing to remain a going concern, which warrants significant caution for investors.
Based on the provided quarterly data, the company's balance sheet trajectory shows a marked weakening, with total liabilities rising to $13.4M by 2026Q1 while cash reserves have effectively evaporated, signaling a precarious financial position that leaves little room for error in the target acquisition process.
The expansion of liabilities relative to a shrinking cash base suggests that the entity is accumulating obligations without the corresponding asset growth required to support a successful merger. This trend appears to indicate that the shell vehicle is becoming increasingly reliant on external support, which may limit management's flexibility in negotiating favorable deal terms.
According to the balance sheet, retained earnings have deepened to a deficit of $13.3M as of 2026Q1, reflecting the persistent administrative burn that continues to erode the equity base of the shell vehicle since its inception in 2024.
The consistent accumulation of negative retained earnings highlights the structural inability of the entity to generate internal value prior to a business combination. Investors should monitor whether this equity erosion necessitates further dilutive capital raises, which could significantly impact the pro-rata value of existing common shares.
As evidenced by the financial statements, the headline equity figure of $201.9M is potentially misleading, as it fails to account for substantial contingent liabilities such as deferred underwriting commissions that only crystallize upon the successful completion of a business combination.
These off-balance-sheet obligations represent a significant future cash outflow that is not currently reflected in the reported liability totals. The presence of these contingent costs suggests that the entity's net asset value may be overstated, warranting further investigation into the actual capital available for a potential target acquisition.
Quick answers to the most common questions about buying SBXD stock.
As of 2025, SilverBox Corp IV (SBXD) had total assets of $213.5M including $0.1M in current assets.
SilverBox Corp IV (SBXD) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
SilverBox Corp IV (SBXD) has total shareholders' equity (book value) of $200.5M ($9.80 book value per share). Book value represents the net worth of the company belonging to common stock holders.
SilverBox Corp IV (SBXD) reported a current ratio of 0.50x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.