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  "documentTitle": "Nuvei Corp (NVEI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-12-09 00:00:00",
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  "notes": "Includes a comparison table of adjusted vs. market data provider enterprise value calculations.",
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      "text": "Nuvei currently has a $14 billion enterprise value. We believe current market data providers fail to adjust its enterprise value for a recent equity raise and other debt adjustments.",
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      "text": "Enterprise Value: $14.2bn",
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      "text": "Nuvei currently has a $14 billion enterprise value. We believe current market data providers fail to adjust its enterprise value for a recent equity raise and other debt adjustments.",
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      "text": "1) Includes 139.5 basic and 4.5m diluted shares. Does not include 665,000 PSUs and 2,200,000 options recently granted to the CEO as disclosed in the Q3'2021 MD&A. Source: Company financials, Spruce Point research",
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      "text": "Market Data Providers Have The Incorrect Cash And Debt table",
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      "text": "Spruce Point Adjusted Enterprise Value table",
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      "text": "Capital Structure",
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