CorpAcq SPAC Presentation Deck
33
3A
Debt:
Capital Structure Overview
CorpAcq's capital structure post-transaction expected to optimize to pursue future acquisition targets
Illustrative Pro Forma Capitalization ($mm)
Assumes no additional redemptions
Revolving Credit Facility
Existing Term Loan
Total Other Debt as of May 2023
New Term Loan Facility
Total Debt(1)
(+) Debt for Acquisitions since May
2023(2)
Adjusted Total Debt(3)
(-) Cash(1)
Adjusted Net Debt(4)
Current (1)
257
196
453
14
467
(71)
396
Pro Forma (5)
196
257
453
14
467
(199)
268
CHURCHILL
CAPITAL VII CorpAcq
Net Leverage Based on FY2023 Adj. EBITDA
Assumes no additional redemptions
2.6x
Current Net Leverage
1.8x
Pro Forma Net Leverage
Repayment of existing preferred and term loan facility as part of transaction
Capital structure at close positions CorpAcq favorably to continue to pursue future attractive acquisition targets and expand its reach
Pro forma net leverage reduced from 2.6x to 1.8x(³) based on FY2023E Adj. EBITDA of $152mm
Source: CorpAcq Management.
Note: Financials based on UK GAAP audits and has not been audited in accordance with PCAOB standards. FY2023E financials are estimates from CorpAcq Management. Assumes USD:GBP exchange ratio of 1.286:1. (1) Current balances
are as of 5/31/2023. (2) Management estimate for debt assumed to complete acquisitions between 5/31/2023 and end of July 2023. (3) Adjusted total debt is debt balance as of 5/31/2023 plus any debt for acquisitions between 5/31/2023 and
end of July 2023. (4) Adjusted net debt is adjusted total debt less cash balance as of 5/31/2023. (5) Pro Forma balances assume no additional redemptions from cash in trust and subtracting from fees & expenses excluding taxes, redemption of
CorpAcq preferred and then up to $257mm of secondary proceeds after a minimum of $129mm cash to the balance sheet; actual available amount for secondary proceeds may vary depending on the amount of redemptions.View entire presentation