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  "documentTitle": "Hagerty | SPAC Presentation Deck | 44 slides",
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  "authorName": "Hagerty",
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  "presentationDate": "2021-08-01 00:00:00",
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  "notes": "The slide uses a standard financial table format to benchmark valuation multiples (EV/Revenue, EV/EBITDA, P/E) and growth/margin metrics.",
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      "text": "Source: FactSet, SEC, company filings, equity research. Note: Market data as of 8/16/2021. 1 Represents total share price multiplied by diluted shares outstanding for public companies. 2 Calculated as market capitalization plus net debt, pro-forma for capital raises or pending acquisitions per management commentary and analyst research estimates where for public companies. 3 Analyst estimates for public companies. 4 For 'Distributor' companies, represents analyst estimates adjusted for projected amortization. 5 Represents 2023E P/E multiple divided by 2023E Earnings CAGR. * Hagerty 2023E EBITDA excludes $36mm of operating expenses related to infrastructure scaling investments (see Pg. 34).",
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      "text": "Public trading comparables (for reference)",
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