Energy Vault SPAC Presentation Deck
Illustrative Fully Diluted Share Count and Ownership
(Share count in millions)
Share Price:
SPAC Shareholders¹
SPAC Shareholder Warrants¹
SPAC Founder Shares¹
PIPE Shareholders
Existing Energy Vault Shareholders²
Existing Energy Vault Shareholder Earnout Shares³
Post-Money Equity Value ($mm)
Implied Ownership:
SPAC Shareholders¹
SPAC Founders
PIPE Shareholders
Existing Energy Vault Shareholders²
Total
$ 10.00
ENERGY VAULT
29
$ 10.00
10
114
$ 1,592
6
18.1 %
4.1
6.3
71.6
100.0 %
$ 12.00
29
1
6
$ 12.00
10
114
$ 1,921
18.4%
4.0
6.3
71.3
100.0 %
$ 14.00
$ 14.00
29
3
6
10
114
$ 2,279
6.2
19.4%
4.0
ENERGY VAULT, INC. ALL RIGHTS RESERVED
70.4
100.0 %
$ 16.00
29
$ 16.00
10
114
4
$ 2,685
3.9
6
6.0
19.8 %
70.3
3
100.0 %
$ 18.00
29
5
$18.00
10
114
$ 3,049
6
3.9
20.3 %
6.0
3
69.8
100.0 %
$ 20.00
29
$ 20.00
6
10
6
114
$ 3,461
5.9
70.2
6
20.1%
3.8
100.0 %
$ 25.00
29
$ 25.00
6
6
10
114
$ 4,356
3.8
5.8
6
20.4 %
70.0
100.0 %
$ 30.00
29
$ 30.00
6
10
7
114
$ 5,342
5.7
9
20.2%
3.7
70.3
Source: Novus financials.
Note: Assumes no redemption by Novus shareholders.
¹ SPAC shareholder warrant dilution assumes ~9.58mm public warrants outstanding with a strike price of $11.50 per share and optional redemption at $18.00 and ~5.17mm private placement warrants outstanding with a strike price of $11.50 and no
mandatory redemption. Assumes treasury stock method. | 2 Does not include up to an additional ~1mm shares which maybe become issuable in connection with the Series C capital raise. | 3 Existing Energy Vault shareholder earnout shares assume 9.0 million
additional shares that will vest in three equal parts contingent upon the occurrence of post-closing share prices of $15.00, $20.00 and $30.00 within 3 years after closing.
Novus Capital Corporation II
100.0 %
51
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