Advent SPAC Presentation Deck
Pro Forma Sources, Uses & Equity Ownership
Sources ($m)
Shares Issued to Advent Shareholders(1)
Estimated SPAC Cash in Trust (²)
PIPE (3)
Total Sources
Uses ($m)
Rolled Advent Equity
Cash to Balance Sheet to Support Project
Development and Working Capital
Estimated Fees & Expenses (4)
Total Uses
$251
$93
$65
$409
$251
$134
$24
$409
Pro Forma Valuation (5)
Share Price ($/share)
PF Shares Outstanding (mm shares) (1,2,3,7)
Equity Value ($m)
Less: Cash (6) ($m)
Enterprise Value ($m)
Illustrative Pro Forma Ownership(1,3,7)
Sponsor
12%
PIPE
Investors
14%
www.advent.energy
Public SPAC
Owners
20%
Advent
Shareholders
54%
(1) Advent to be issued shares of Class A common stock at $10.00/share. Based on $250 million purchase price adjusted for $0.9m of net cash on Advent's balance sheet as of September 30, 2020.
(2) Cash in Trust and Pro Forma Ownership reflect 9.1m shares of Class A common stock outstanding and 5.5m shares of Class B common stock outstanding as of November 24, 2020.
(3) AMCI Acquisition Corp. announced a private placement on December 22, 2020 for an aggregate commitment of 6,500,000 shares of Class A common stock at $10.00 per share to be consummated concurrently with closing.
(4) Estimated Fees & Expenses includes deferred underwriting fees, PIPE financing fees and other expenses.
(5) Valuation is based on share price of $10.00 per share for illustrative purposes (the redemption price per share of AMCI Acquisition Corp.'s Class A stock will be higher).
$10.00
46.2
$462
($135)
$326
(6) Inclusive of $0.9m of Advent net cash as of 9/30/2020, $0.1m of AMCI net cash as of 9/30/2020, and Cash to Balance Sheet resulting from the transaction.
(7) Pro Forma Ownership does not include any warrants which are exercisable at $11.50 per share. There are 22.1m public warrants and 5.9m private warrants outstanding, and 2.0m private warrants will be forfeited as part of the transaction. Does not include
any awards reserved under the new equity incentive plan to be adopted by AMCI in connection with the closing.
AMCI ADVENT
Acquisition Corp.
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