Credit Suisse Investment Banking Pitch Book
Osprey warrant adjustment for 1H'17A dividends
Per Osprey management as of September 2017
Outstanding FSIC warrants reconciliation
Number of common shares outstanding prior to distribution
Exercise price per share
Product
(-) Cash dividends paid (¹)
Numerator
Denominator
Revised exercise price
Number of warrants:
# of shares in warrant
Exercise price
Product
Numerator
Denominator
Revised number of underlying shares per warrant
Original number of warrants
Effective number of warrants
Source: Osprey public filings and Osprey management.
$0.02 per share.
Q1'17
42.676
$12.62
$538.6
(0.9)
$537.7
42.676
$12.60
1.00
$12.62
$12.62
$12.62
$12.60
1.002
12.000
12.019
Q2'17
42.073
$12.60
$530.1
(0.8)
$529.3
42.073
I $12.58 I
1.00
$12.60
$12.60
$12.60
$12.58
1.002
PRELIMINARY | SUBJECT TO FURTHER REVIEW & REVISION
12.019
I 12.038 I
Selected commentary
Based on indenture for FSIC warrants
outstanding
Reflects adjustment to number of
warrants outstanding and exercise price
of outstanding warrants based on
distributions made to Osprey
stockholders
Confidential
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