Financial Metrics and Projections
WELL CAPITALIZED FOR FUTURE GROWTH¹
External Financing Sources
Debt
Convertible
Preferred
Equity
Mandatory
Convertible
Equity
$3.5B secured term loans
■ $990M high yield bonds
■ $348M revolver availability
$2.15B series B investment from Bain
Capital
■ Coupon: 5%, 4-year payable-in-kind,
cash pay option thereafter
■ Conversion price of $85.00 per share
◉
$460M series A preferred equity
Mandatorily convertible on July 1, 2023
■ Converts to ~11M shares
Leverage
Total Debt
$4.5 billion
2.9x(1)
Cash
$0.9 billion
Net Debt
$3.6 billion
2.3x(1)
PF Combined
TTM Adj
$1,583 million
EBITDA (1)
(incl. $212M synergies +$100M
additional cost savings)
Fully-Diluted Shares Outstanding²
COHR basic shares
Stock comp shares
Series A preferred equity
Series B preferred
139M
2M
11M
27M
178M
Pro forma FDSO
(1) Reflects, as of 3/31/2023, using pro forma TTM combined adj EBITDA at 3/31/23, including $312 million of future expected cost
savings within 36 months. Not calculated in accordance with Article 11 of SEC regulation S-X.
(2) Balances assuming all securities are dilutive as of 3/31/23. Not calculated in accordance with Article 11 of SEC regulation S-X.
COHERENT
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