# SILVERBOX SECURITIES LLC X-17A-5 (2025-02-05) — Broker-dealer annual report - Company: SILVERBOX SECURITIES LLC - Form: X-17A-5 - Filed: 2025-02-05 - Period: 2024-12-31 - Accession: 0001988646-25-000004 - CIK: 1988646 - File #: 8-71136 - Type: Broker-dealer - Material weakness: No - Auditor: Cropper Accountancy - Auditor location: Walnut Creek, CA - Contact: Elizabeth Collins - Phone: 415-246-9169 - Email: de@sbcap.com - Website: sbcap.com - Signed by: Daniel E. Ester (CCO & CFO) Original filing: https://www.sec.gov/Archives/edgar/data/1988646/000198864625000004/silverboxsecurities2024.pdf --- {0}------------------------------------------------ FINANCIAL STATEMENTS DECEMBER 31, 2024 {1}------------------------------------------------ ### UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 OMB APPROVAL OMB Number: 3235-0123 Expires: Nov. 30, 2026 Estimated average burden hours per response: 12 # ANNUAL REPORTS FORM X-17A-5 PART III sec file number 8-71136 FACING PAGE nation Required Pursuant to Rules 17a-5, 17a-12, and 18a-7 u ler the Securities Exchange Act of 1934 | minimali negativa i kishante to there are a vita dos transfer me accomment membridge more of are at at at at at | | | | | |-------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------|------------|-------------------------------------------|--| | FILING FOR THE PERIOD BEGINNING | 01/01/24 | AND ENDING | 12/31/24 | | | | MM/DD/YY | | MM/DD/YY | | | | A. REGISTRANT IDENTIFICATION | | | | | NAME OF FIRM: SilverBox Securities LLC | | | | | | TYPE OF REGISTRANT (check all applicable boxes):
മ Broker-dealer
□ Check here if respondent is also an OTC derivatives dealer | | | | | | ADDRESS OF PRINCIPAL PLACE OF BUSINESS: (Do not use a P.O. box no.) | | | | | | 511 River Street E, Box 2420 | | | | | | | (No. and Street) | | | | | Ketchum | ldaho | | 83340 | | | (City) | (State) | | (Zip Code) | | | PERSON TO CONTACT WITH REGARD TO THIS FILING | | | | | | Daniel E. Esters | (310) 351-2476
de@sbcap.com | | | | | (Name) | (Area Code - Telephone Number) | | (Email Address) | | | | B. Accountant Identification | | | | | INDEPENDENT PUBLIC ACCOUNTANT whose reports are contained in this filing* | | | | | | Cropper Accountancy Corporation | (Name – if individual, state last, first, and middle name) | | | | | | | | | | | 2700 Ygnacio Valley Blvd, Suite 270 | Walnut Creek | California | 94598 | | | (Address) | (City) | (State) | (Zip Code) | | | March 4, 2009 | 3381 | | | | | (Date of Registration with PCAOB)(if applicable) | | | (PCAOB Registration Number, if applicable | | | | FOR OFFICIAL USE ONLY | | | | \* Claims for exemption from the requirement that the annual reports of an independent public accountant must be supported by a statement of facts and circumstances relied on as the basis of the exemption. See 17 CFR 240.17a-5(e)(1)(ii), if applicable. Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. {2}------------------------------------------------ #### OATH OR AFFIRMATION I, Daniel E. Esters swear (or affirm) that, to the best of my knowledge and belief, the financial report pertaining to the firm of SilverBox Securities LLC as of the manager of the as of December 31, 2024 , is true and correct. I further swear (or affirm) that neither the company nor any partner, officer, director, or equivalent person, as the case may be, has any proprietary interest in any account classified solely as that of a customer. Signature: Title: CFO & CCO (See attached California approved notary certificate dated February 3, 2025) Notary Public #### This filing\*\* contains (check all applicable boxes): - (a) Statement of financial condition. - [ (b) Notes to consolidated statement of financial condition. - (c) Statement of income (loss) or, if there is other comprehensive income in the period(s) presented, a statement of comprehensive income (as defined in § 210.1-02 of Regulation S-X). - (d) Statement of cash flows. - D (e) Statement of changes in stockholders' or partners' or sole proprietor's equity. - [ (f) Statement of changes in liabilities subordinated to claims of creditors. - (g) Notes to consolidated financial statements. - (h) Computation of net capital under 17 CFR 240.15c3-1 or 17 CFR 240.18a-1, as applicable. - [ (i) Computation of tangible net worth under 17 CFR 240.18a-2. - (i) Computation for determination of customer reserve requirements pursuant to Exhibit A to 17 CFR 240.15c3-3. - □ (k) Computation for determination of security-based swap reserve requirements pursuant to Exhibit B to 17 CFR 240.15c3-3 or Exhibit A to 17 CFR 240.18a-4, as applicable. - [ (I) Computation for Determination of PAB Requirements under Exhibit A to § 240.15c3-3. - 1 (m) Information relating to possession or control requirements for customers under 17 CFR 240.15c3-3. - □ (n) Information relating to possession or control requirements for security-based swap customers under 17 CFR 240.15c3-3(p)(2) or 17 CFR 240.18a-4, as applicable. - D (o) Reconciliations, including appropriate explanations, of the FOCUS Report with computation of net capible net worth under 17 CFR 240.15c3-1, 17 CFR 240.18a-1, or 17 CFR 240.18a-2, as applicable, and the reserve requirements under 17 CFR 240.15c3-3 or 17 CFR 240.18a-4, as applicable, if material differences exist, or a statement that no material differences exist. - □ (p) Summary of financial data for subsidiaries not consolidated in the statement of financial condition. - (q) Oath or affirmation in accordance with 17 CFR 240.17a-5, 17 CFR 240.17a-12, or 17 CFR 240.18a-7, as applicable. - [r) Compliance report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - (s) Exemption report in accordance with 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - □ (t) Independent public accountant's report based on an examination of the statement of financial condition. - [u] Independent public accountant's report based on an examination of the financial statements under 17 CFR 240.17a-5, 17 CFR 240.18a-7, or 17 CFR 240.17a-12, as applicable. - [ (v) Independent public accountant's report based on an examination of certain statements in the compliance report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - 1 (w) Independent public accountant's report based on a review of the exemption report under 17 CFR 240.17a-5 or 17 CFR 240.18a-7, as applicable. - | (x) Supplemental reports on applying agreed-upon procedures, in accordance with 17 CFR 240.17a-12, as applicable. - [] {y} Report describing any material inadequacies found to have existed since the date of the previous audit, or a statement that no material inadequacies exist, under 17 CFR 240.17a-12(k). - □ (z) Other: \*\* To request confidential treatment of chis filing, see 17 CFR 240.17a-5(e)(3) or 17 CFR 240.18a-7(d)(2), as applicable. {3}------------------------------------------------ #### ACKNOWLEDGMENT A notary public or other officer completing this certificate verifies only the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. ## STATE OF CALIFORNIA) County of Ventura) on February 3 20 20 before me, Cory D. Esters, Notary Public, personally appeared DANIEL EDWARD ESTERS, who provided to me on the basis of satisfactory evidence to be the person(s) whose name(is/are subscribed to the within instrument and acknowledged to me that (heyshe/they executed the same in (his/her/their authorized capacity(ies), and that by his/her/their signature on the instrument the person (s), or entity upon behalf of which the person (s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct. WITNESS my hand and official seal. (SEAL) Signature NOTARY PUBLIC ![](_page_3_Picture_7.jpeg) {4}------------------------------------------------ ![](_page_4_Picture_0.jpeg) ## REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM To the Member of SilverBox Securities LLC ## Opinion on the Financial Statements We have audited the accompanying statement of financial condition of SilverBox Securities LLC as of December 31, 2024, the related statements of income, changes in member's equity, and cash flows for the year then ended, and the related notes and schedules (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of SilverBox Securities LLC as of December 31, 2024, and the results of its operations and its cash flows for the year ended December 31, 2024, in conformity with accounting principles generally accepted in the United States of America. ## Basis for Opinion These financial statements are the responsibility of SilverBox Securities LLC's management. Our responsibility is to express an opinion on SilverBox Securities LLC's financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to SilverBox Securities LLC in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audit also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion. ## Auditor's Report on Supplemental Information The Schedule I - Computation of Net Capital, and Schedule II - Computation for Determination of Reserve Requirements and Information Relating to Possession or Control Requirements has been subjected to audit procedures performed in conjunction with the audit of SilverBox Securities LLC's financial statements. The supplemental information is the responsibility of SilverBox Securities LLC's management. Our audit procedures included determining whether the supplemental information reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental information. In forming our opinion on the supplemental information, we evaluated whether the supplemental information, including its form and content, is presented in conformity with 17 C.F.R. §240.17a-5. In our opinion, the supplemental information listed above is fairly stated, in all material respects, in relation to the financial statements as a whole. CROPPER ACCOUNTANCY CORPORATION We have served as SilverBox Securities LLC's auditor since 2024. Walnut Creek, California January 24, 2025 {5}------------------------------------------------ # TABLE OF CONTENTS | Report of Independent Registered Public Accounting Firm | | |--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------| | Statement of Financial Condition | 2 | | Statement of Income | 3 | | Statement of Changes in Member's Equity | 4 | | Statement of Cash Flows | 5 | | Notes to the Financial Statements | 6 - 9 | | Supplemental Information | 10 | | Schedule I: | 11 | | Computation of Net Capital for Brokers and Dealers Pursuant
to Rule 15c3-1 Under the Securities Exchange Act of 1934 ("SEA") | | | Reconciliation of Computation of Net Capital Under SEA Rule 15c3-1 | | | Schedule | 12 | | Computation for Determination of the Reserve Requirements
and Information Relating to Possession or Control
Requirements for Brokers and Dealers Pursuant to Rule 15c3-3 | | | Review Report of the Independent Public Accounting Firm | 13 | | SEA Rule 15c3-3 Exemption Report | 14 | {6}------------------------------------------------ ## STATEMENT OF FINANCIAL CONDITION DECEMBER 31, 2024 ### ASSETS | Cash
Prepaid expenses | | 50,606
2,122 | |--------------------------|---|-----------------| | Total assets | ধ | 52,728 | ### LIABILITIES AND MEMBER'S EQUITY | Liabilities | | | |---------------------------------------|----|--------| | Accounts payable | | 1,255 | | Total liabilities | | 1,255 | | Member's equity | | 51,473 | | Total liabilities and member's equity | ಕಿ | 52,728 | {7}------------------------------------------------ ## STATEMENT OF INCOME FOR THE YEAR ENDED DECEMBER 31, 2024 | REVENUE | | | |-------------------------------|----|---------| | Investment banking fee | 60 | 170,000 | | Total revenue | | 170,000 | | EXPENSES | | | | Professional fees | | 34,344 | | Technology and communications | | 16,060 | | Insurance | | 9,176 | | Other operating expenses | | 5,790 | | Total expenses | | 65,370 | | Net income | S | 104,630 | {8}------------------------------------------------ # STATEMENT OF CHANGES IN MEMBER'S EQUITY FOR THE YEAR ENDED DECEMBER 31, 2024 | Member's equity, as of January 1, 2024 | 46,843 | |------------------------------------------|----------------------| | Distributions
Net income | (100,000)
104,630 | | Member's equity, as of December 31, 2024 | 51,473 | {9}------------------------------------------------ ## STATEMENT OF CASH FLOWS FOR THE YEAR ENDED DECEMBER 31, 2024 | CASH FLOWS FROM OPERATING ACTIVITIES
Net income | ಿನ | 104,630 | |----------------------------------------------------|-------|-----------| | Adjustments to reconcile net loss | | | | to net cash provided by operating activities: | | | | (Increase) decrease in: | | | | Prepaid expenses | | (2,122 | | Increase (decrease) in: | | | | Accounts payable | | 1,255 | | Net cash provided by operating activities | | 103,763 | | CASH FLOWS FROM FINANCING ACTIVITIES | | | | Distributions | | (100,000) | | Net cash used in financing activities | | (100,000) | | Net increase in cash | | 3,763 | | Cash, beginning of year | | 46,843 | | Cash, end of year | ਦਿੱਤੇ | 50,606 | {10}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`X` Z [[]"\X"Y #### XY"XZX[!"\ [[]"\X"Y ^\_X[X` #### I4( 8--+6789:%9> N%989-%8& 0/8/(6(9/0 B((9 7)(78)(@ %9 8--+)@89-( =%/4 8--+.9/%9> 7)%9-%7&(0 >(9()8&&: 8--(7/(@ %9 /4( a9%/(@ \$/8/(0 +N M6()%-8 35bMMc;(6(9/ /+ 68O( (0/%68/(0 89@ 800.67/%+90 /48/ 8NN(-/ /4( )(7+)/(@ 86+.9/0 +N 800(/0 89@ &%8B%&%/%(0 8/ /4( @8/( +N /4( N%989-%8& 0/8/(6(9/0 89@ /4( )(7+)/(@ 86+.9/0 +N )('(9.(0 89@ (,7(90(0 @.)%9> /4( )(7+)/%9> 7()%+@H M-/.8& )(0.&/0 -+.&@ @%NN() N)+6 /4+0( (0/%68/(0 89@ 68: 48'( 89 %678-/ +9 N./.)( 7()%+@0H !Xd !\_] Z X"!"[X!\_ -"`\d]"\` '8&.(0 '8&.(0 '8&.( #### a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` !"e !` f]Xg!\_"\` %9'(0/6(9/0 (W.%'8&(9/0H (W.%'8&(9/0 [[]"\` [Xg!h\_ M--+.9/0 )(-(%'8B&( )(7)(0(9/0 86+.9/0 /48/ 48'( B((9 (8)9(@ 89@ B%&&(@ /+ -&%(9/0 %9 8--+)@89-( =%/4 /4( /()60 +N /4( 2+6789:i0 (9>8>(6(9/ &(//()0 =%/4 )(07(-/%'( -&%(9/0 /48/ 48'( 9+/ :(/ B((9 -+&&(-/(@H I4( 2+6789: 8--+.9/0 N+) (0/%68/(@ -)(@%/ &+00(0 +9 N%989-%8& 800(/0 6(80.)(@ 8/ 89 86+)/%?(@ -+0/ B80%0 %9 8--+)@89-( =%/4 SM\$\* M\$2 GDjDFE S%989-%8& K90/).6(9/0 j 2)(@%/ 1+00(0H SM\$\* M\$2 GDjDF )(W.%)(0 /4( 2+6789: /+ (0/%68/( (,7(-/(@ -)(@%/ &+00(0 +'() /4( &%N( +N %/0 N%989-%8&0 800(/0 80 +N /4( )(7+)/%9> @8/( B80(@ +9 )(&('89/ %9N+)68/%+9 8B+./ 780/ ('(9/0E -.))(9/ -+9@%/%+90E 89@ )(80+98B&( 89@ 0.77+)/8B&( N+)(-80/0H '8&.8/%+9 I4( 2+6789: )(-+)@0 /4( (0/%68/( +N (,7(-/(@ -)(@%/ &+00(0 80 89 8&&+=89-( N+) -)(@%/ &+00(0H S+) N%989-%8& 800(/0 6(80.)(@ 8/ 89 86+)/%?(@ -+0/ B80%0 /4( 8&&+=89-( N+) -)(@%/ &+00(0 %0 )(7+)/(@ 80 8 8--+.9/ +9 /4( B8&89-( 04((/ /48/ %0 @(@.-/(@ N)+6 /4( 800(/i0 86+)/%?(@ -+0/ B80%0H 2489>(0 %9 /4( 8&&+=89-( N+) -)(@%/ &+00(0 8)( )(7+)/(@ 80 -)(@%/ &+00 (,7(90( +9 /4( \$/8/(6(9/ +N K9-+6(H M0 +N A(-(6B() GQE DFDRE /4()( =()( 9+ 86+.9/0 )(-(%'8B&(H {11}------------------------------------------------ ## NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024 #### 2. Significant Accounting Policies (continued) #### Income Taxes The Company is a single member limited liability company and is treated as a disregarded entity for tax purposes. In lieu of income taxes, the Company passes 100% of its taxable income and expenses to the Member. Therefore, no provision or liability for federal or state income taxes is included in these financial statements. #### 3. Related Party Transactions On July 12, 2023, the Company entered into an Expense Sharing Agreement ("Agreement") with Member, a company under common control. Member pays certain overhead expenses for the Company for which it is reimbursed by the Company. For the year ended December 31, 2024, the Company reimbursed Member \$25,951 of such costs. However, per the Agreement, the Company is not obligated to reimburse Member. As of December 31, 2024, no amount is due to Member. For year ended December 31, 2024, the Company acted as independent financial advisor in connection with a public offering of a company under common control. The Company earned a \$170,000 success fee for its services which is included in investment banking fees on the Statement of Income. The Company's results of operations and financial position could differ significantly from those that would have been obtained if the entities were autonomous. #### 4. Revenue from Contracts with Customers Revenue from contracts with customers is recognized when, or as, the Company saisfies performance obligations by transferring the promised goods or services to the customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring progress in satisfying the performance obligation in a manner that depicts the transfer of the goods or services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time when it is determined the customer obtains control over the promised good or service. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for those promised goods or services (i.e., the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur and when the uncertainties with respect to the amount are resolved. In determining when to include variable consideration in the transaction price, the Company considers the range of possible outcomes, the predictive value of past experiences, the time period of when uncertainties expect to be resolved and the amount of consideration that is susceptible to factors outside of the Company's influence, such as market volatility or the judgment and actions of third parties. {12}------------------------------------------------ ## NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024 #### 4. Revenue from Contracts with Customers (continued) The following provides detailed information on the recognition of revenues from contracts with customers: #### Investment Banking Fees Revenue is generated from fees earned on investment banking advisory services provided in connection with capital raising, merger, acquisition and restructuring transactions. Investment banking revenue can be both fixed and variable and can be recognized over time and at a point in time. Retainer fees from investment banking advisory engagements are recognized over time using a time elapsed measure of progress as the Company's clients simultaneously receive and consume the benefits of those services as they are provided, or are recognized at a point in time when the related performance obligation is complete. Success fees are recognized at a point in time when the transaction is complete since the related performance obligation has been satisfied upon completion. For the year ended December 31, 2024, there was one \$170,000 success fee which is presented as investment banking fee on the Statement of Income. ### Contract Balances Income is recognized upon completion of the related performance obligation and when an unconditional right to payment exists. The timing of revenue recognition may differ from the timing of customer payments. Fees received prior to the completion of the performance obligation are recorded as deferred revenue on the statement of financial condition until such time when the performance obligation is met. Deferred revenue primarily relates to retainer fees received in investment banking engagements. Deferred revenue was \$0 at January 1, 2024 and December 31, 2024. Alternatively, a receivable is recognized when a performance obligation is met prior to receiving payment by the customer. Receivables related to revenue from a contract with a customer totaled \$0 as of January 1, 2024 and December 31, 2024. #### Contract Costs Expenses associated with investment banking advisory engagements are deferred only to the extent they are explicitly reimbursable by the client and the related revenue is recognized upon completion of the performance obligations. All other investment banking advisory related expenses are expensed as incurred. #### 5. Concentration of Credit Risk The Company maintains its cash in bank deposit accounts which, at times, may have exceeded federally insured limits during the year. For the year ended December 31, 2024, 100% of the investment banking fee was earned from one customer. {13}------------------------------------------------ ## NOTES TO THE FINANCIAL STATEMENTS DECEMBER 31, 2024 ### 6. Net Capital Requirements The Company is subject to the Uniform Net Capital Rule (Rule 15c3-1) under the Securities Exchange Act of 1934, which requires the maintenance of minimum net capital and requires the ratio of aggregate indebtedness to net capital both as defined shall not exceed 8 to 1. As of December 31, 2024, the Company had net capital of \$49,351 which was \$44,351 in excess of its required capital. #### 7. Subsequent Events Management has evaluated subsequent events for disclosure and/or recognition in the financial statements through the date that the financial statements were available to be issued, which date was the date of the Report of Independent Registered Public Accounting Firm and noted no events requiring disclosure or recognition. {14}------------------------------------------------ # SUPPLEMENTAL INFORMATION # PURSUANT TO RULE 17a-5 OF THE SECURITIES EXCHANGE ACT {15}------------------------------------------------ ## SCHEDULE I # COMPUTATION OF NET CAPITAL FOR BROKERS AND DEALERS PURSUANT TO RULE 15c3-1 UNDER THE SECURITIES EXCHANGE ACT OF 1934 ("SEA") AS OF DECEMBER 31, 2024 #### NET CAPITAL | Total member's equity | ಿರು | 51,473 | |----------------------------------------------------------|-----|--------| | Deductions and/or charges: | | | | Less: Non-allowable assets | | | | Prepaid expenses
2,122 | | | | Total non-allowable assets | | 2,122 | | Net capital | | 49,351 | | COMPUTATION OF BASIC NET CAPITAL REQUIREMENT | | | | Minimum net capital required of 6 2/3% of aggregate | | | | indebtedness of \$1,255 or \$5,000, whichever is greater | | 5,000 | | Excess of net capital over minimum requirement | ಿರು | 44,351 | | Aggregate indebtedness | | | | Accounts payable | | 1,255 | | Total aggregate indebtedness | | 1,255 | | Percent of aggregate indebtedness to net capital | | 2.54% | ## RECONCILIATION OF COMPUTATION OF NET CAPITAL UNDER SEA RULE 15c3-1 AS OF DECEMBER 31, 2024 There were no material differences between the Computation of Net Captal above and the corresponding schedule included in the Company's amended December 31, 2024 Part IIA FOCUS filing. {16}------------------------------------------------ ### SCHEDULE II # COMPUTATION FOR DETERMINATION OF THE RESERVE REQUIREMENTS AND INFORMATION RELATING TO POSSESSION OR CONTROL REQUIREMENTS FOR BROKERS AND DEALERS PURSUANT TO RULE 15C3-3 FOR THE YEAR ENDED DECEMBER 31, 2024 The Company engages in mergers and acquisitions, the private placements of securities and corporate finance advisory services. The Company does not accept customer funds or securities and will not have possession of any customer funds or securities in connection with these activities. Therefore, in reliance on Footnote 74 to SEC Release 34-70073, which is discussed in Q & A 8 of the related FAQ issued by SEC staff, the firm will not claim an exemption from SEA Rule 15c3-3 as it does not effect transactions for anyone defined as a customer under Rule 15c3-3, and there are no items to report under the requirements of this Rule. {17}------------------------------------------------ ![](_page_17_Picture_0.jpeg) # REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM ## To the Member of SilverBox Securities LLC We have reviewed management's statements, included in the accompanying Rule 15c3-3 Exemption Report pursuant to SEC Rule 17a-5, in which (1) SilverBox Securities LLC (the Company) did not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and (2) the Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 because the Company limits its business activities exclusively to investment banking capital raising and merger and acquisition advisory services and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule 15c3-3) throughout the most recent fiscal year without exception. SilverBox Securities LLC's management is responsible for compliance with the provisions contemplated by Footnote 74 of SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5 and related SEC Staff Frequently Asked Questions and its statements. Our review was conducted in accordance with the standards of the Public Company Accounting Oversight Board (United States) and, accordingly, included inquiries and other required procedures to obtain evidence about SilverBox Securities LLC's compliance with the exemption provisions. A review is substantially less in scope than an examination, the objective of which is the expression of an opinion on management's statements. Accordingly, we do not express such an opinion. Based on our review, we are not aware of any material modifications that should be made to management's statements referred to above for them to be fairly stated, in all material respects, based upon the Company's business activities contemplated by Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. § 240.17a-5, and related SEC Staff Frequently Asked Questions. CROPPER ACCOUNTANCY CORPORATION Walnut Creek, California January 24, 2025 {18}------------------------------------------------ ![](_page_18_Picture_0.jpeg) SilverBox Securities LLC (the "Company") is a registered broker-dealer subject to Rule 1 7a-5 promulgated by the Securities and Exchange Commission (17 C.F.R. §240.17a-5, "Reports to be made by certain broker and dealers"). This Exemption Reportt was prepared as required by 17 C.F.R. §240.17a-5(d)(l) and (4). To the best or its knowledge and belief, the Company states the following: - 1. The Company does not claim an exemption under paragraph (k) of 17 C.F.R. §240.15c3-3, and - 2. The Company is filing this Exemption Report relying on Footnote 74 of the SEC Release No. 34-70073 adopting amendments to 17 C.F.R. §240.1 7a-5 because the Company limits its business activities exclusively to investment banking capital raising and merger and acquisition advisory services. and the Company (1) did not directly or indirectly receive, hold, or otherwise owe funds or securities for or to customers; (2) did not carry accounts of or for customers; and (3) did not carry PAB accounts (as defined in Rule I 5c3-3) throughout the most recent fiscal year without exception. I affirm to the best of my knowledge and belief, this Exemption Report is true and correct. By: Daniel Esters Chief Financial Officer SilverBox Securities LLC January 6, 2025 Source: SEC EDGAR via Adviser Search (https://search.stillhousedata.com). Agents: see https://search.stillhousedata.com/llms.txt.