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  "documentTitle": "OmniAb | SPAC Presentation Deck | 35 slides",
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  "authorName": "OmniAb",
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  "presentationDate": "2022-03-01 00:00:00",
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  "notes": "Details a SPAC merger transaction structure.",
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      "text": "Illustrative Pro Forma Ownership: Ligand Shareholders 75.0%, APAC Shareholders 20.3%, Avista Shares 4.7%",
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      "text": "Note: Assumes no redemptions. Excludes impact of 8.2 million Avista warrants and 7.7 million public warrants, each struck at $11.50. Excludes impact of 15.0 million Ligand earnout shares and 1.9 million Avista earnout shares. Up to 37.5% of Avista's earnout shares are immediately vested pro rata to any utilization of the $100 million backstop facility. (1) Excludes OmniAb's expenses. (2) Includes 1.5 million co-investment shares and 3.8 million sponsor shares.",
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      "text": "OmniAb, Inc., an antibody discovery business wholly owned by Ligand, has entered into a definitive agreement to merge with Avista Public Acquisition Corp. II (APAC) (NASDAQ: AHPA), valuing OmniAb at a fully diluted pre-money equity valuation of $850 million",
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      "text": "Illustrative Sources & Uses: Sources (APAC Cash $236, Avista Minimum Commitment 15, Ligand Contribution 15, Total $266); Uses (Cash to Balance Sheet $250, Estimated Transaction Fees 16, Total $266)",
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      "text": "Pro Forma Enterprise Value: Share Price $10.00, Pro Forma Shares Outstanding 113.3, Post-Transaction Equity Value $1,133, (-Cash) (250), Pro Forma Enterprise Value $884",
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      "text": "TRANSACTION SUMMARY",
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