Advent SPAC Presentation Deck
Pro Forma Sources, Uses & Equity Ownership
Sources ($m)
Shares Issued to Advent Shareholders (1)
Estimated SPAC Cash in Trust (2)
Potential Financing(³)
Total Sources
Uses ($m)
Rolled Advent Equity
Cash to Balance Sheet to Support Project
Development and Working Capital
Cash Used to Repurchase Warrants (4)
Estimated Fees & Expenses (5)
Total Uses
$250
$153
$25
$428
$250
$121
$39
$18
$428
Pro Forma Valuation
Share Price ($/share)
PF Shares Outstanding (mm shares) (1,2,3)
Equity Value ($m)
Less: Cash (6) ($m)
Enterprise Value ($m)
Illustrative Pro Forma Ownership(1,2,3,4)
Sponsor
12%
Potential
Financing
5%
www.advent.energy
Public SPAC Owners
31%
(4) Assumes repurchase of all 22.1m of the public warrants and 3.9m of the private placement warrants at $1.50/warrant. 2.0m of the private placement warrants will be forfeited.
(5) Estimated Fees & Expenses includes deferred underwriting fees and other expenses.
(6) Inclusive of $1m of Advent net cash as of 6/30/2020 and Cash to Balance Sheet resulting from the transaction.
Advent
Shareholders
52%
(1) Advent to be issued shares of Class A common stock at $10.00/share.
(2) Cash in Trust and Pro Forma Ownership assumes no redemptions of Class A common stock. There were 14.9m shares of Class A common stock outstanding and 5.5m shares of Class B common stock outstanding as of September 25, 2020.
(3) AMCI is seeking $25 million of additional financing as part of the transaction. Pro Forma Ownership assumes that Potential Financing is in the form of Class A common stock issued at $10.00/share.
$10.00
47.9
$479
($122)
$358
AMCI ADVENT
Acquisition Corp.
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