Marti Investor Presentation Deck
Transaction summary
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About Marti
Marti is Turkey's leading mobility provider,
operating a fleet of e-scooters, e-bikes, and
e-mopeds, serviced by proprietary software
systems and loT infrastructure
Marti has achieved strong growth and best-
in-class unit profitability¹
As the #1 travel app on the iOS & Android
stores in Turkey², Marti seeks to become
Turkey's first mobility super app by
expanding into other attractive adjacencies,
leveraging its growing and loyal customer
base
Transaction overview
Galata is a NYSE American-listed special purpose
acquisition company which proposes to close a
merger with Marti in Q2 2023
Pro-forma enterprise value of ~$549 million and
equity value of ~$630 million
O
Implied pro forma enterprise value of 4.0x FD
(Fully Deployed ³) net revenue of ~$138 million
and 9.3x FD (Fully Deployed ³) EBITDA of ~$59
million
O Approximately $62.0 million convertible note
PIPE commitments plus assumed additional
financing, including incremental PIPE
commitments of up to $88.0 million to be raised
post-announcement, will fund future growth
Marti shareholders are rolling 100% of their equity
and are expected to own ~50% of the Company at
close
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Due diligence conducted by Galata
Background checks on management and
shareholders
Engagement of leading global audit and
accounting firm for financial due diligence
Engagement of international and local counsel
for legal due diligence
Engagement of the world's leading business
consultancy for comprehensive commercial due
diligence
Comprehensive evaluation of competitors and
comparative transactions
Independent analysis of current market share,
unit economics, and regulatory regime
Source: Company information, Helbiz and Bird investor presentations and SEC filings. Note: 1. In FY2021, Marti had a positive (+1%) Adjusted EBITDA margin vs Bird's ( -33%) and Helbiz's (-409%) significantly negative EBITDA margins. 2. Mobility app with the highest number of #1 ranking in
Turkey iOS/Andrid app stores for the last 12 months of September 30,2022. Ranking figures based on data.ai (fka AppAnnie.) 3. FD refers to Fully Deployed figures for the 12 months immediately following the consummation of the Business Combination that Marti would be expected to
achieve if only the proceeds from the approximately $62.0 million in convertible note PIPE commitments plus assumed incremental PIPE commitments of up to approximately $88.0 million to be raised post-announcement were to be deployed towards purchasing e-scooters, e-mopeds and
e-bikes immediately upon receipt. 4. Based on the Pro-Forma Diluted Ownership laid out in the Detailed transaction overview slide, slide 44.
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