Investor Presentaiton
TRANSACTION OVERVIEW
electriq
power
Transaction Structure
TLG Acquisition Corp. to merge with Electriq at a pro-forma Enterprise Value of
$367mm (3.5x 2024E Revenue)
SPAC Sponsor Shares
8.3mm shares and 4.7mm warrants forfeited
Electriq shareholders roll 100% of equity and $10.1MM of existing debt rolling over
to equity
Sources & Uses ($mm)
Pro Forma Capitalization and Ownership ($mm)
Existing Electriq Shareholders
Existing SPAC Shareholders
New Equity (1)
$275
2
13
SPAC Sponsor / Mike Lawrie (2)
54
Loan Conversion
(3)
13
$356
Less: Cash to B/S
(17)
Plus: New Preferred (4)
27
Enterprise Value
$367
Equity Value
New Cash Sources
Existing SPAC Shareholders
$2
SPAC Sponsor / Mike Lawrie
15
New Equity
12
Total Sources
$28
New Uses
Cash to Balance Sheet
$17
Existing Debt Payoff
4
Transaction Expenses at Closing
Total Uses
7
$28
SPAC Sponsor
/ Mike Lawrie
15%
Loan
Conversion
4%
New Equity
4%
Existing SPAC
Shareholders
0%
Note: Includes no assumption for any excise tax potentially due under the Inflation Reduction Act. Excludes potential dilution from outstanding and to-be-issued options and warrants.
Presented for illustrative purposes only and capitalization reflects a $10 per share nominal price. Figures may not add due to rounding.
1. Assumes 1.3mm common shares related to $11.5mm of New Equity
2. Assumes 1.8mm common shares related to $15mm of New Equity, 1.1mm common shares related to the conversion to equity an $8.5mm existing loan to Electriq Power, 0.8mm common
share related to $8.3mm of certain transaction costs that converted to equity, and 1.7mm common shares for existing Sponsor & affiliates founder shares. To the extent the Company is
unsuccessful in raising $28mm, Mr. Lawrie has agreed to fund up to $3mm of New Equity. If Mr. Lawrie were to fund $3mm of New Equity, he would receive 0.3mm common shares (which is
currently reflected in New Equity in both the Sources & Uses and Pro Forma Capitalization and Ownership).
3. Assumes 1.3mm common shares related to the conversion to equity a total of $10.1mm in existing loans to Electriq Power
4. Assumes 2.7mm preferred shares: 1.4mm related to $28.0mm of New Equity, 0.4mm related to the conversion to equity Sponsor's $8.5mm existing loan to Electriq Power, 0.4mm related to
$8.3mm of certain Sponsor transaction costs that converted to equity, and 0.5mm related to the conversion to equity a total of $10.1mm in existing loans to Electriq Power.
Existing
Electriq
Shareholders
77%
Strictly Confidential / Not for Redistribution
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