SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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X
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
  
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
SILVERspac Sponsor LLC

(Last) (First) (Middle)
7 WORLD TRADE CENTER, 10TH FLOOR
250 GREENWICH STREET

(Street)
NEW YORK NY 10007

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SILVERspac Inc. [ SLVR ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
09/29/2023
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Ordinary Shares (1) 09/29/2023 D(2) 6,124,999 (1) (1) Class A Ordinary Shares 6,124,999 (2) 1 D(3)
1. Name and Address of Reporting Person*
SILVERspac Sponsor LLC

(Last) (First) (Middle)
7 WORLD TRADE CENTER, 10TH FLOOR
250 GREENWICH STREET

(Street)
NEW YORK NY 10007

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
SILVERspac Management LLC

(Last) (First) (Middle)
7 WORLD TRADE CENTER, 10TH FLOOR
250 GREENWICH STREET

(Street)
NEW YORK NY 10007

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
FEDERMAN CHARLES

(Last) (First) (Middle)
C/O SILVERSPAC INC.
7 WORLD TRADE CENTER, 10TH FLOOR

(Street)
NEW YORK NY 10007

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Kerret Tal

(Last) (First) (Middle)
C/O SILVERSPAC INC.
7 WORLD TRADE CENTER, 10TH FLOOR

(Street)
NEW YORK NY 10007

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer
X Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
1. As described in the Issuer's registration statement on Form S-1 (File No. 333-253161) (the "Registration Statement"), the Issuer's Class B ordinary shares, par value $0.0001 per share ("Class B Ordinary Shares"), were convertible into Class A ordinary shares, par value $0.0001 per share ("Class A Ordinary Shares"), on a one-for-one basis automatically at the time of the Issuer's initial business combination or earlier, at the option of the Reporting Person, and had no expiration date.
2. On September 14, 2023, the Issuer announced that it would not consummate an initial business combination by the September 14, 2023 deadline under its Amended and Restated Memorandum and Articles of Association. On September 29, 2023, in connection with the liquidation and dissolution of the Issuer, the Reporting Person surrendered 6,124,999 Class B Ordinary Shares for no consideration.
3. The reporting owner, SILVERspac Sponsor LLC (the "Sponsor"), in whose name the securities reported herein are held. The managing member of the Sponsor is SILVERspac Management LLC. The members of SILVERspac Management LLC are Mr. Charles Federman and Mr. Tal Kerret. Each of the Reporting Persons (other than the Sponsor) may be deemed a beneficial owner of shares held by the Sponsor but each disclaims beneficial ownership of the securities held by the Sponsor, except to the extent of his or its pecuniary interest therein.
Remarks:
Mr. Charles Federman and Mr. Tal Kerret serve on the board of directors of the issuer. For the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, SILVERspac Management LLC may be deemed a director by deputization with respect to the issuer on the basis of the service of Mr. Charles Federman and Mr. Tal Kerret on the issuer's board of directors.After giving effect to the Issuer's delisting and deregistration, the Reporting Person will no longer be subject to Section 16 reporting obligations.
SILVERspac Sponsor LLC, by /s/ Charles Federman, as Chief Executive Officer 10/03/2023
SILVERspac Management LLC, by /s/ Charles Federman, as Chief Executive Officer 10/03/2023
/s/ Charles Federman 10/03/2023
/s/ Tal Kerret 10/03/2023
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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