Grove SPAC Presentation Deck slide image

Grove SPAC Presentation Deck

Notes: I. 2. MASON ∞ 5. 7. SOURCES $MM 8. Company Stockholders Rollover Public Entity Cash in Trust PIPE Proceeds Total Sources Transaction Sources and Uses PRO FORMA CAPITALIZATION (AT $10.00) $MM Pro Forma Shares Outstanding (2) Post-Money Equity Value (2) (3) Less: Net Cash (4) Pro Forma Implied Enterprise Value (Post-Money) $1,400 403 87 (1) $1,890 195.5 $1,955 (450) $1,505 USES $MM Equity Consideration to Company Stockholders Cash to Company Balance Sheet Transaction Expenses Total Uses PRO FORMA OWNERSHIP (%) AT CLOSING PIPE 4% (6) Public Entity Public Shares 21% 35% of the Public Entity Sponsor shares restructured into an earnout structure, of which 50% will be subject to a $12.50 per share price and the remaining 50% to a $15.00 per share price 6.7MM founder warrants outstanding $1,400 435 72% Assumes $87MM in PIPE proceeds and $55MM in transaction expenses Excludes 14.0MM of shares in seller earnout (no redemptions), of which 50% will be subject to a $12.50 per share price and the remaining 50% to a $15.00 per share price. Excludes approximately 12MM shares on a pro forma basis underlying unvested Company options and RSUS as of December 7, 2021, that will convert into public company equity incentives at the Closing 3. Assumes a notional share price of $10.00 per share, 195.5MM shares outstanding and net cash of $450MM. Shares outstanding excludes impact of public warrants, founder warrants, seller earnout, sponsor earnout and reserved and unvested awards under go-forward equity incentive plan. 4. Assumes $15MM in existing Company net cash as of 12/31/21 52 8 Dual-class stock structure comprising high-vote (10 votes per share) and low-vote stock (1 vote per share) 6. 8.IMM public warrants outstanding; Exercise subject to trading price cap of $18.00 per share 55 (1) $1,890 Public Entity Private Shares(7) (8) 3% Company Stockholders (2) (5)
View entire presentation