Crocs Investor Presentation Deck
HEYDUDE Acquisition Update
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HEYDUDE ACQUISITION UPDATE
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Closed acquisition February 17, 2022
Advanced in building out our HEYDUDE leadership team with
the majority of critical positions filled
Financing:
• Closed $2B of Term Loan B financing (1)
O
• Issued 2,852,280 shares to one of the sellers(2)
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O
• Share repurchases on hold until gross leverage is <2.0x, which
we do not expect to occur in 2022
• Committed to working towards quickly deleveraging
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We expect to be <2.0x gross leverage by the end of 2023
Drew $50M under our existing Senior Revolving Credit
Facility (3)
O
New ambition of $6B+ in revenues for combined business (4)
crocs™
Term Loan B that matures in 2029 and bears interest at SOFR (with a SOFR floor of 0.50%) plus 3.50%
Shares issued to seller at $157.77 per share based on the average of the daily volume-weighted average price of our stock for the 20
days immediately prior to the December 22, 2021 signing date
3.
In connection with the closing, we increased commitments under existing Senior Revolving Credit Facility by $100M to a total of $600M
4. Reflects long-term revenues target for 2026E
1.
2.
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