Verde Investment Highlights
TLGY
TLGY Acquisition Corp (TLGY) Introduction
TLGY was formed to focus on growth companies through long-term, private equity style value creation in the biopharma and business-
to-consumer ("B2C") technology sectors
Jin-Goon Kim
Founder, Chairman and CEO
20+ years of experience in
private equity and as CEO,
leading public and private
companies and driving
outsized returns and large
capital deployment
Former Partner at TPG
Capital
Over $40 Billion in
shareholder value creation
across multiple companies,
including #1 auto platform,
leading China sportswear
brand, and Dell Korea
Awarded TPG CEO award
and Man of the Year, Most
Innovative Business Model,
and Dealership of the Year
awards by top Chinese
Media and industry
associations
Steven Norman
President and CFO
The Proposed Transaction is
being co-led by Steven
Norman, Co-President
(Technology) & CFO for
TLGY.
Mr. Norman has over 25
years of technology industry
experience with a proven
track record of driving
business growth.
Former member of Asia
Pacific Executive Team at
Dell, Asia Pacific Managing
Director for Targus, and
enterprise sales expert
Led by Jin-Goon Kim, a serial transformational CEO in industry leading public and private
companies with an extensive track record of driving value creation through business
transformations, and a former Partner and member of Asia Investment Review Committee
at TPG Capital.
TLGY structure addresses what TLGY team believe are the root causes of today's
challenging SPAC market - inflated valuation and/or low quality of DeSPAC targets
that increase cash redemption and reduce demand for PIPE and roll-over investments.
Key components of TLGY's private equity style structure include:
Backing only what the TLGY team believes is a potentially disruptive business with
high growth potential as the foundation for a successful medium to long-term
investment
Lower entry valuation in exchange for offering potentially much higher valuation
that is realized later based on performance earnouts with high IRR hurdles and
growth targets
Innovative combination of "non-detachable warrant" and "pre-emptive warrant
conversion" - mechanisms that, when used in combination and enhanced by PIPE,
are designed to provide incentives to encourage roll-over investments before
closing of the Proposed Transaction and serve as a growing counterweight to
redemption pressures as redemptions increase (i.e., the same pool of warrants /
converted common is given to a shrinking group of non-redeeming shareholders).
A team of executives, advisors, and investors with proven track record of building and
running technology and consumer market leaders provide value-added guidance and
support for building industry leading businesses, including strategy and execution,
regional expansion with access to markets and partners, and capital market expertise
to offer a superior path to US listing, as needed.
Jin-Goon will join the combined company as the Chairman of the board.
Verde
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