Transforming Marketing
CAPITAL STRUCTURE
Net Debt & Debt-Like ($M, as of 6/30/2023)
Share Count5 (Thousands, as of 8/4/2023)
Revolving Credit Facility
$ 402
Class A
116,451
Bonds
1,100
NCI¹
26
DAC2
114
Class C
151,649
(equal voting & economic rights to Class A)
RNCI³
47
Less: Investments4
19
Share-based awards6
701
Less: Cash
105
TOTAL NET DEBT & DEBT-LIKE
$1,565
DILUTED
268,801
STAGWELL
TRANSFORMING MARKETING
Note: Share count assumes full conversion of Class C shares to Class A on a one-to-one basis. Numbers may not foot due to rounding
1. Excludes non-controlling interest of Stagwell Class C shareholders to reflect NCI balance pro forma for full conversion of Class C shares to Class A.
2. A portion of the DAC will be paid with approximately 4.6m shares assuming conversion as of 6/30/23.
3. Includes redeemable non-controlling interest and obligations in connection with profit interests held by employees.
4. Non-consolidated investments
5. Share Count does not include unvested stock grants, unsettled SARS or portion of DAC to be settled in stock. Pro Forma total share count as of 8/4/2023 would be 116.5m Class A shares, 151.6 Class C shares, 4.6m shares to settle DAC and 7.6m share-based awards, for a total of 280.4m shares outstanding.
6. Estimated shares to be issued upon the exercise of settled SAR awards using treasury method.
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