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  "documentTitle": "Porch | SPAC Presentation Deck | 48 slides",
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  "authorName": "Porch",
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  "presentationDate": "2020-07-01 00:00:00",
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      "text": "Transaction implies a pro forma combined enterprise value of $523 million (4.4x based on 2021E revenue of $120 million)\nExisting Porch shareholders will receive approximately 53% of the pro forma equity and up to $30 million cash at close(1) (2)\nPorch Founders, Team and existing Porch shareholders are rolling 92% of their equity as part of the Transaction (1) (2)",
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      "text": "PropTech Acquisition Corporation (\"PTAC\") has proposed to enter a business combination (the \"Transaction\") with Porch.com, Inc. (\"Porch\"), a vertical software platform for the home\nThe Transaction is expected to close in Q4 2020\nPost-closing, the company will be listed on NASDAQ under the Porch brand",
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      "text": "The Transaction will be funded by a combination of PTAC cash held in a trust account, PTAC common stock, proceeds from the PTAC PIPE, and Porch cash on hand at closing(1)\nTransaction is expected to result in zero debt and $205 million cash on balance sheet to fund growth (1)",
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      "text": "(1) See Pro Forma Equity Ownership (slide 37) for key assumptions and additionall details. Assumes no redemptions by PTAC's existing public shareholders.\n(2) Cash proceeds subject to downward adjustment to minimum of $10 million based upon total net cash available from all sources at closing. Pro forma equity ownership includes an earnout comprised of 5 million restricted shares issued at the closing of the Transaction that are subject to forfeiture should the company not meet certain stock trading price hurdles (one-third during the three-year post-closing period at each of $18.00, $20.00 and $22.00 per share). Pro forma equity ownership is subject to upward adjustment if cash proceeds are adjusted downward.",
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      "text": "Indicative Transaction Overview",
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