Metals Acquisition Corp SPAC Presentation Deck
Sources & Uses
Transaction Funding
Sources
Senior Debt Facility (1,2)
Mezzanine Debt Facility
Silver Stream
Equity
Glencore Equity
Cash in trust (subject to redemptions),
new equity and alternative sources (3)
Total Sources
Uses
Purchase Price (4)
Working Capital & Transaction Costs
Total Uses
US$ million
$375.00
$175.00
$90.00
$41.75
$50.00
$418.25
$1,150.00
US$ million
$1,100.00
$50.00
$1,150.00
Financing to Date (5)
Senior
Debt
Facility
Mezzanine
Convertible
Debt
Facility
Silver
Stream
Equity
Glencore
Equity
• US$405 million senior debt facility, comprised of:
US$350 million acquisition term loan facility
- US$25 million revolving working capital facility(2)
A$40 million (c. US$30 million) letters of credit
facility (including performance guarantees)
• 3-year term
Underwritten by Citibank, N.A. ("Citi") and
Commonwealth Bank of Australia ("CBA")
• US$175 million mezzanine convertible debt facility
led by Sprott Resource Lending Corp. and investors
(collectively "Sprott")
• 5-year term
Convertible to Class A Shares at US$13.50/share(6)
• US$90 million silver streaming agreement with a
subsidiary of Osisko Gold Royalties Ltd ("OGR")
100% of future silver production
US$25 million from Sprott
• US$15 million from OGR
• US$1.75 million from Mr. McMullen and Mr. Crouse
• US$50 million of common equity paid to Glencore
(included in US$1,100 million purchase price)
Sources: Company Information.
(1) Acquisition term loan and revolving working capital facility (excludes letters of credit facility); (2) Revolving working capital facility available at financial dose, it can not be used for acquisition funding or associated costs; (3) To the extent
redemptions are higher than expected, additional new equity and alternative sources of funding would need to be secured; (4) Consists of US$1,050.0 million in cash and US$50.0 milion of common equity (excluding 1.5% copper NSR);
(5) Subject to significant conditions, including negotiation of binding documentation; (6) Convertible to approximately 13.0 million Class A Shares.
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