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  "documentTitle": "Navitas | SPAC Presentation Deck | 44 slides",
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  "authorName": "Navitas",
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  "presentationDate": "2021-06-01 00:00:00",
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  "notes": "Uses a 20% discount rate on 2023E projected revenue multiples.",
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      "text": "Implied enterprise value based on comparable companies ($bn) vs Transaction value ($bn)",
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      "text": "Trading multiples based on power semiconductor comparable players(1) at 9.0x – 13.0x 2022E projected revenue. We apply the 2023 projected revenue metric and discount at a 20% rate\nFor reference, recent early stage / high growth semiconductor deSPACs(2) are trading at a median of 6.2x 2023 projected revenue and recent LiDAR deSPACs(3) are trading at median of 18.0x 2023 projected revenue",
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      "text": "(1) Comparable power semiconductor companies include Monolithic Power Systems, Cree Inc., Power Integrations, Texas Instruments, and Analog Devices.\n(2) Semiconductor DeSPACs include Indie and Achronix.\n(3) LiDAR DeSPACs include Aeva, Aeye, Innoviz Technologies, Luminar, Ouster and Velodyne Lidar.\n(4) 2023E projected revenue ~$182mm.\nSource: company filings, FactSet.",
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      "text": "Valuation Summary",
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