Harley Davidson SPAC Presentation Deck
Proposed Transaction Summary
Harley-Davidson's LiveWire EV Motorcycle Business to Combine With
AEA-Bridges to Create Separate Public Company
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LIVEWIRE TRANSACTION OVERVIEW
AEA Bridges Impact Corporation ("ABIC") entered into business combination agreement with LiveWire
Attractive risk-adjusted investment opportunity in EV space; aligns with UN Sustainable Development Goals
- Transaction partner KYMCO, a Taiwanese motorcycle & sport vehicle manufacturer, helps accelerate
penetration in key global markets and light motorcycle & scooter segments via low-cost manufacturing
Transaction expected to close in H1 2022; LiveWire will trade on the NYSE under ticker LVW
LIVEWIRE CAPITAL STRUCTURE
Transaction financed by ABIC's $400 million cash held in trust, Harley-Davidson's $100 million PIPE
investment, and KYMCO's $100 million PIPE investment
Financing yields $545 million of net cash proceeds - funds strategic plan to accelerate go-to-market
strategy, invest in new product development, and enhance global manufacturing & distribution capabilities
Harley-Davidson backstopping up to $100 million in redemptions; commitments from Harley-Davidson,
KYMCO, and ABIC will satisfy minimum cash condition
LIVEWIRE VALUATION
Transaction implies a pro forma enterprise value of $1.77 billion; post money equity value of $2.31 billion
-1.0x 2026E revenue of $1,769 million and 16% of Harley-Davidson's current enterprise value
- Experienced public company management team focused on achievability of financial projections
17.3%
4.3%
4.3%
OWNERSHIP
STRUCTURE
74%
■Harley-Davidson
■AEA-Bridges
Strategic PIPE (KYMCO) ■Founder SharesView entire presentation