Skillsoft SPAC Presentation Deck
Introduction
Strategy
CASH², 3
TOTAL DEBT²
Content
NET DEBT
ATTRACTIVE CAPITAL STRUCTURE AND PARTNER SUPPORT
PROVIDE STRATEGIC FLEXIBILITY
skillsoft
Platform
ILLUSTRATIVE CAPITAL STRUCTURE
ASSUMES NO REDEMPTIONS AND COMPLETION OF $400M SECOND STEP INVESTMENT BY PROSUS
($M)
DEBT/CY2022E
ADJ. EBITDA¹
(GROSS / NET)
Go-To-Market
Finance
$535
$650
$115
Q&A
3.3X/0.6X
COMMITTED INVESTOR BASE
CHURCHILL CAPITAL
y
prosus
Notes:
1 Reflects FYE 1/31/23E Adj. EBITDA midpoint.
2 Pro forma for Churchill transactions with Skillsoft and Global Knowledge; assumes no redemptions.
3 PIPE subject to certain conditions; $400M second step investment by Prosus subject to CFIUS approval.
Source: Churchill estimates, management estimates, S-4. Excludes equity issued to management and advisors in connection with the consummation of the contemplated transaction,
including equity issued under Churchill's management incentive compensation plan.
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