{
  "docId": "019de50f-ef36-751c-946f-73d030b6d84e",
  "docSlug": "f734197674659ca0733ec937fc6adc4f",
  "documentTitle": "UTZ Brands | SPAC Presentation Deck | 49 slides",
  "authorId": "utz-brands",
  "authorName": "Utz Brands",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2020-08-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.2938006,
  "pageNumber": 8,
  "pageCount": 49,
  "prevPage": 7,
  "nextPage": 9,
  "slideType": "appendix_data",
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  "density": "dense",
  "nDataPoints": 8,
  "notes": "Includes detailed footnotes regarding valuation methodology and transaction assumptions.",
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  "slideHref": "/slides/019de50f-ef36-751c-946f-73d030b6d84e/8",
  "deckHref": "/decks/019de50f-ef36-751c-946f-73d030b6d84e",
  "deckJsonHref": "/decks/019de50f-ef36-751c-946f-73d030b6d84e.json",
  "deckAnchorHref": "/decks/019de50f-ef36-751c-946f-73d030b6d84e#slide-8",
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      "kind": "disclaimer",
      "text": "1). Enterprise value calculated based upon $1,151 million equity value and $409 million of Net Debt based on 12/31/19 balance. Equity value includes 115.1 shares outstanding. Excludes shares underlying warrants ($11.50 strike price) and seller and sponsor performance shares (which vest at $12.50 and $15.00 per share). Ascribes no value to net present value of net operating losses or other potential tax attributes.\n2). See page 41 for reconciliation. For 2020 and 2021, “Projected Further Adjusted EBTIDA” refers to figures disclosed in the definitive proxy / prospectus and represents management’s view of Utz as a public company.\n3). Assumes no redemptions from CCH trust account.\n4). Investment pursuant to forward purchase agreement with Collier Creek Partners, LLC (“Sponsor”) and independent directors.",
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      "text": "Enterprise Value of $1,561 million(1)\nPro forma for the transaction Utz expected to have 2020E Net Debt of ~$385 million or ~3.1x 2020E Projected Further Adj. EBITDA(2)\nTransaction will be structured as an Up-C with the Company entering into a customary tax receivable arrangement with Utz owners as part of the transaction\nExpected transaction closing in Q3'20",
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      "kind": "table",
      "text": "Expected Cash Sources and Uses ($ in mm)\nCollier Creek Cash in Trust Account(3) $453\nSponsor Co-Investment(4) 35\nTotal Sources $488\nCash Consideration to Existing Owners $60\nRepay Existing Debt and Preferred Units 376\nTransaction Fees 52\nTotal Uses $488",
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      "kind": "title",
      "text": "Transaction Overview",
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      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Problem",
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      "evidence": "Slides 6-8 introduce the opportunity and highlight Utz's strengths",
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      "evidence": "Slides 7-9 highlight the current market conditions and COVID's favorable impact on Utz's brands",
      "position": 0,
      "objective": "Why now is an exciting time to invest in Utz Brands",
      "structure": "The Context (Trends) -> The Trigger Event -> The Window of Opportunity",
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