{ "docId": "019dd923-622c-750b-8b99-3dd81deb19cb", "docSlug": "0cee9cc55960", "documentTitle": "Generac Holdings, Inc. (GNRC)", "authorId": "54_Spruce_Point_Capital", "authorName": "Ben Axler", "documentKindSlug": "activist-deck", "documentKindLabel": "Activist deck", "sourceTypeSlug": "short_seller", "sourceTypeLabel": "Short seller", "presentationDate": "2022-06-22 00:00:00", "orientation": "landscape", "aspectRatio": 1.3333334, "pageNumber": 2, "pageCount": 145, "prevPage": 1, "nextPage": 3, "slideType": "disclaimer", "function": "other", "density": "balanced", "nDataPoints": 0, "notes": null, "elementsJson": [ "paragraph" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-622c-750b-8b99-3dd81deb19cb/2", "deckHref": "/decks/019dd923-622c-750b-8b99-3dd81deb19cb", "deckJsonHref": "/decks/019dd923-622c-750b-8b99-3dd81deb19cb.json", "deckAnchorHref": "/decks/019dd923-622c-750b-8b99-3dd81deb19cb#slide-2", "components": [ { "bbox": { "h": 0.3, "w": 0.9, "x": 0.05, "y": 0.45 }, "kind": "disclaimer", "text": "This research presentation expresses our research opinions, which we have based upon interpretation of certain facts and observations, all of which are based upon publicly available information, and all of which are set out in this research presentation. Any investment involves substantial risks, including complete loss of capital. There can be no assurance that any statement, information, projection, estimate, or assumption made reference to directly or indirectly in this presentation will be realized or accurate. Any forecasts, estimates, and examples are for illustrative purposes only and should not be taken as limitations of the minimum or maximum possible loss, gain, or outcome. Any information contained in this report may include forward looking statements, expectations, pro forma analyses, estimates, and projections. You should assume these types of statements, expectations, pro forma analyses, estimates, and projections may turn out to be incorrect for reasons beyond Spruce Point Capital Management LLC's control. This is not investment or accounting advice nor should it be construed as such. Use of Spruce Point Capital Management LLC's research is at your own risk. You should do your own research and due diligence, with assistance from professional financial, legal and tax experts, before making any investment decision with respect to securities covered herein. All figures assumed to be in US Dollars, unless specified otherwise.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "295e2595-7c80-40c5-b0c4-3ba44a4efa64", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.3, "w": 0.9, "x": 0.05, "y": 0.15 }, "kind": "disclaimer", "text": "This research presentation expresses our research opinions. You should assume that as of the publication date of any presentation, report or letter, Spruce Point Capital Management LLC (\"SPCM\") (possibly along with or through our members, partners, affiliates, employees, contributors and/or consultants) along with our subscribers and clients has a short position in all stocks (and are long/short combinations of puts and calls on the stock) covered herein, including without limitation Generac Holdings Inc. (\"GNRC\") and therefore stand to realize significant gains in the event that the price declines. Following publication of any presentation, report or letter, we intend to continue transacting in the securities covered therein, and we may be long, short, or neutral at any time hereafter regardless of our initial recommendation. All expressions of opinion are subject to change without notice, and Spruce Point Capital Management does not undertake to update this report or any information contained herein. Spruce Point Capital Management, subscribers and/or consultants shall have no obligation to inform any investor or viewer of this report about their historical, current, and future trading activities.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "9eea2c63-d830-4fe2-bbb9-b3f365d70951", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.2, "w": 0.9, "x": 0.05, "y": 0.75 }, "kind": "disclaimer", "text": "To the best of our ability and belief, as of the date hereof, all information contained herein is accurate and reliable and does not omit to state material facts necessary to make the statements herein not misleading, and all information has been obtained from public sources we believe to be accurate and reliable, and who are not insiders or connected persons of the stock covered herein or who may otherwise owe any fiduciary duty or duty of confidentiality to the issuer, or to any other person or entity that was breached by the transmission of information to Spruce Point Capital Management LLC. However, Spruce Point Capital Management LLC recognizes that there may be non-public information in the possession of GNRC or other insiders of GNRC that has not been publicly disclosed by GNRC. Therefore, such information contained herein is presented \"as is,\" without warranty of any kind – whether express or implied. Spruce Point Capital Management LLC makes no other representations, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "de75a85d-e2a7-4fae-8c9d-16715522fe3b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.3, "x": 0.35, "y": 0.05 }, "kind": "title", "text": "Full Legal Disclaimer", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "172a6393-eb7b-4401-b207-f79dcf462238", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 5, "from": 1, "beatId": "9fb4b2c3-0c31-4a8d-bd93-41626ee28e2a", "arcName": "Overcoming the Monster", "arcSlug": "overcoming-monster", "beatName": "Hook", "beatSlug": "hook", "evidence": "Strong sell opinion and disclaimer", "position": 0, "confidence": 0.8, "parentBeatName": null, "parentBeatSlug": null } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }