Allwyn SPAC Presentation Deck
Transaction summary
5
• NYSE-listed SPAC with $828mm¹ cash in trust
Q
• Cash in trust expected to be supplemented by a
PIPE of more than $350mm
●
COHN ROBBINS
HOLDINGS CORP
• Founders Gary D. Cohn and Clifton S. Robbins
("Founders")
• Intends to effect a business combination with Allwyn²
Newly formed entity is expected to be listed on the
NYSE ("PubCo")
1)
2)
3)
Note: Assumes no redemption from Cohn Robbins SPAC Trust; EUR:USD spot rate of 1.14 applied, sourced from Capital IQ as of 7-Jan-22
Subject to potential redemptions
Allwyn represents the rebranded operations of Sazka Entertainment AG, which is the entity that will be subject to the business combination
Includes impact from expected bonus pools for non-redeeming Cohn Robbins shareholders and PIPE shareholders, with potential for combined
incremental 9.4mm common shares to be issued. Bonus pool for PIPE and non-redeeming shareholders is variable based on number of redemptions.
Shares underlying CRHC warrants expected to be adjusted by the same ratio
Based on management estimates_(subject to material change); adj. net debt as of Dec-21E. Includes €322mm of convertible notes expected to be
outstanding at transaction close. Excludes impact of expected free cash flow and a €170 mm one-time dividend prior to closing
4)
allwyn
Large, privately-owned multinational lottery business
Expected market cap for PubCo of ~$8.0bn /
~€7.0bn
Valuation estimate represents entry multiple
of ~10.8x³ projected 2022E Adj. EBITDA of
$810mm / €710mm4
Expected pro forma net debt / 2022E Adj. EBITDA
of ~1.6x4
Expected to further bolster Allwyn's growth plansView entire presentation