OppFi Pitch Deck
Transaction Overview
Transaction Overview
•
Implied pro forma fully diluted equity value of $803.0mm 1; implied
enterprise value of $909.4mm2
• Transaction multiples:
Equity Value Adj. Net Income: 12.2x (2021P), 9.1x (2022P) 1,3,4
•
Pro Forma Ownership 1,6
Enterprise Value / Adj. EBITDA: 6.9x (2021P), 5.0x (2022P) 1,3,5
30%
• Transaction expected to be fully funded through cash in trust with net
proceeds going to pay cash consideration to existing OppFi
shareholders6
•
Current owners will initially retain ~62% ownership in public OppFi6
• The transaction is expected to close in Q2 2021
4
1. Assumes no redemptions and excludes any impact of excess working capital at close
2. Includes net debt of $106.4mm
3. 2021P projections exclude potential impact of additional government stimulus
4. Adj. Net Income represents Adj. EBT tax-affected at 25% assumed tax rate. Pro forma for fair market value accounting and includes anticipated recurring
public company costs
5. Adj. EBITDA pro forma for fair market value accounting and includes anticipated recurring public company costs
6. Assumes a share price of $10.00. Ownership excludes dilutive impact of ~5.6 million Sponsor warrants struck at $11.50 and $15.00, -11.9 million Public
Warrants struck at $11.50 and 25.5 million seller earnout shares released at share price hurdles of $12.00, $13.00 and $14.00
8%
62%
Seller Rollover SPAC Investors FGNA Sponsor
OppFi****View entire presentation