Forbes SPAC Presentation Deck slide image

Forbes SPAC Presentation Deck

Estimated Sources & Uses and Illustrative Pro Forma Valuation In millions Estimated Sources & Uses 1) 2) 3) 4) 5) Uses Cash to Balance Sheet Estimated Transaction Expenses Secondary to Existing Shareholders(¹) Existing Shareholder Rollover Founder Shares held by Opus Total Uses Sources (2) Opus Cash from Trust (2 Existing Shareholder Rollover PIPE Investors Founder Shares held by Opus Total Sources $ $ $ $ $ $ $ $ $ is ee $ $ $ 145.0 15.0 440.0 180.0 50.0 830.0 200.0 180.0 400.0 50.0 830.0 17.5% 1.8% 53.0% 21.7% 6.0% 100.0% % 24.1% 21.7% 48.2% 6.0% 100.0% Illustrative Pro Forma Valuation Pro Forma Shares Outstanding Share Price (3) Pro Forma Equity Value Add: Pro Forma Net Debt / (Cash) (4) Pro Forma Enterprise Value (4) (5) Opus Founder Shares Total Note: Presentation on this page represents current expectations relating to transaction structure and is subject to further discussion and negotiation of definitive documentation in its entirety. Any redemptions will impact the amount of secondary proceeds. This amount will be reduced by the amount of cash used to satisfy any redemptions. Excludes the impact of warrants and management equity compensation and assumes no redemptions. Assumes Forbes is debt-free, cash-free at closing. Company estimates. For financial projections, please refer to "Use of Projections" portion of the disclaimer. 83.00 $ 10.00 $ 830.0 $ (145.0) $ 685.0 Less: Tax Benefits Pro Forma Enterprise Value, Net of Tax Benefit PF EV / 2022E Pro Forma Revenue(5 PF EV / 2022E Pro Forma EBITDA (5) PF EV Net of Tax Benefit / 2022E Pro Forma Revenue(5) PF EV Net of Tax Benefit / 2022E Pro Forma EBITDA (5) Pro Forma Ownership Existing Shareholders PIPE Investors Opus Public Shareholders $ (55.0) $ 630.0 2.9x 12.8x 2.7x 11.8x 21.7% 48.2% 24.1% 6.0% 100.0% Forbes 9
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