AlTi SPAC Presentation Deck
AITi Transaction overview
ALVARIUM TIEDEMANN CAPITAL
$Millions; unless otherwise stated
Estimated Sources and Uses
Estimated Sources:
Stock Consideration (Equity Rollover)
SPAC Cash in Trust
Cash Raised from PIPE
Sponsor
Total Sources
Estimated Uses:
Rollover Equity
Cash Used for Secondary Share Purchases
Transaction Expenses (Est.)
Cash to Balance Sheet
Sponsor
Total Uses
%
839 59.0%
345
165
73
24.3%
11.6%
5.2%
100.0%
$ 1,422
• Excludes the impact of warrants and future management equity compensation
• Assumes no public shareholder redemptions
EA
839
100
61
349
73
$ 1,422
%
59.0%
7.0%
4.3%
24.5%
5.2%
100.0%
Notes:
• Excludes shares subject to 5-year earnout
- 13.5 million shares subject to be issued to Existing Partners & Families upon achieving a share price of $12.50 (50%) and $15.00 (50%)
- 1.3 million Sponsor shares subject to forfeiture. Such forfeiture to be canceled at a share price of $12.50 (50%) and $15.00 (50%)
• Assumes $100 million of secondary share sales and $61 million of transaction expenses
• The Pro Forma Enterprise Value of $1,139 million presented here differs from the term Companies Enterprise Value of $1,080 million used
in the Business Combination Agreement. Companies Enterprise Value reflects the adjustment for approximately $7 million of certain
transaction expenses, which were removed in connection with the determination of the amount of the equity rollover at the time the Business
Combination Agreement figure was agreed. The figures also reflect updates for the expected incurred Expenses and the net debt at Closing.
Illustrative Pro Forma Valuation
Share Price
(x) Pro Forma Shares Outstanding
Pro Forma Equity Value
Less: Assumed Pro Forma Net Cash
Pro Forma Enterprise Value
PF Enterprise Value as a Multiple of 2022P Economic EBITDA
Illustrative Pro Forma Ownership
Existing Partners & Families
SPAC Shareholders
PIPE Investors
Sponsor
24%
12%
5%
$1.4B
PF Equity
Value
59%
$ 10.00
142.7
$ 1,427
287
$ 1,139
11.4x
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