AgroFresh SPAC Presentation Deck
Ownership and Share Count Reconciliation
Common Equity
Public Shares (1)
Net Shares from Public Warrants Exercised (2)
Sponsor Shares (Avenue / Founder) (³)
Net Shares from Sponsor Warrants Exercised (4)
Dow Shares
Net Shares from Dow Warrants Exercised (5)
PIPE Shares (6)
Total Ownership (%)
Common Equity
Public Shares (1)
Net Shares from Public Warrants Exercised (2)
Sponsor Shares (Avenue / Founder) (3)
Net Shares from Sponsor Warrants Exercised (4)
Dow Shares
Net Shares from Dow Warrants Exercised (5)
PIPE Shares (6)
Fully Diluted Shares Outstanding (mm)
Ownership at Various Share Prices:
$10.00
$13.00
45%
42%
0
2
9
0
36
0
10
100%
22.1
0.0
4.1
0.0
17.5
11
1
33
1
9
0.0
4.9
48.6
100%
$13.00
22.1
1.3
5.5
0.4
17.5
0.7
4.9
$24.00
36%
Share Count at Various Share Prices:
$10.00
$24.00
22.1
5.7
5.5
1.6
17.5
3.1
4.9
52.3
9
29
5
8
100%
60.5
(1) 22,050,000 shares sold as part of Unit to Public in Boulevard IPO.
(2) 11,025,000 Warrants sold as part of Unit to Public in Boulevard IPO ($11.50 Strike / $24.00 forced exercise). Treasury Stock Methodology (TSM) applied.
(3) Includes 1,378,125 Boulevard Earnout Shares vesting at $13.00 per share.
(4) 6,160,000 Warrants purchased by Boulevard at IPO ($11.50 Strike) less 3,000,000 given to Dow per Warrant Purchase Agreement ($11.50 Strike). Treasury Stock Methodology (TSM) applied.
(5) 6,000,000 Warrants per Warrant Purchase Agreement ($11.50 Strike / $24.00 forced exercise). Treasury Stock Methodology (TSM) applied.
(6) Private Placement Shares sold at $10.25 per share.
31 Note: Management team is expected to be offered equity to align incentives. Such share issuances are not included in the fully diluted shares outstanding in this presentation.
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