Corecentric Investor Conference Presentation Deck
Transaction summary
Transaction highlights
Pro forma enterprise value of $1.229B
2023E adj. revenue multiple of 6.5x
+ Corcentric shareholders to receive $1,013M
H
$893M in rollover equity and $120M in secondary proceeds
$50M PIPE investment into Corcentric in connection with the merger
+ Corcentric to receive $27M in primary proceeds to fund growth¹
+ North Mountain Merger Corp. to receive 1 of 7 board seats
■
Sources
($M)
Corcentric Rollover Equity
NMMC Cash in Trust¹
PIPE Proceeds
Total Sources
Uses
($M)
Corcentric Rollover Equity
Secondary Proceeds
Cash to Balance Sheet²
Estimated Transaction Expenses³
Total Uses
corcentric
$893
$132
$50
$1,075
Pro forma capitalization (at $10.00 per share)4
($M)
Implied Pro Forma Equity Value4
Pro Forma Debt5
Pro Forma Cash5
Pro Forma Enterprise Value
Pro forma ownership at closing
12.0%
NMMC Public
Shareholders
4.5%
PIPE Investors
81.1%
Existing Corcentric
Shareholders
$1,101
$140
$12
$1,229
$893
$120
$27
$35
$1,075
Note: Transaction assumes a $50M PIPE at $10.00, no redemptions by NMMC public shareholders, $27M cash to the balance sheet, and $120M cash to existing Corcentric shareholders; Corcentric has a unilateral $150M minimum cash
condition, net of SPAC acquirer fees. The minimum cash condition may be reduced to $125M net of SPAC acquirer fees with the consent of Corcentric; Figures may not sum due to rounding; (1) Assumes no redemptions by NMMC public
shareholders; (2) $12M of cash dedicated to the balance sheet with residual being using to pay down debt; (3) Illustrative transaction fees and expenses for both SPAC and target; (4) Includes 89.3M Corcentric shares, 13.2M NMMC common
shares, 5.0M PIPE shares, and 2.6M NMMC sponsor shares (excludes 2.1M NMMC sponsor shares subject to price vesting conditions); Excludes tranches subject to time triggers and early price releases (5) Pro-forma capitalization as of
12/31/21; (6) Assumes $10.00 per share; Excludes the dilutive impact of NMMC public warrants, Corcentric earnout, founder share earnout, and the new, to-be-established equity incentive plan; 4.7M SPAC sponsor shares are issued and
outstanding immediately post Closing, including exchanged warrant shares; Excludes 2.1M founder shares subject to earnout, vesting ratably at $12.50 per share and $15.00 per share; Excludes tranches subject to time triggers and early price
releases
2.4%
NMMC Founder Shares
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