{
  "docId": "019de511-ccc1-722b-a0cf-130f4aac043c",
  "docSlug": "7370f10a6325d0fc573629620cc8bb81",
  "documentTitle": "Bird | SPAC Presentation Deck | 50 slides",
  "authorId": "bird",
  "authorName": "Bird",
  "documentKindSlug": "pitchdeck",
  "documentKindLabel": "Pitch deck",
  "sourceTypeSlug": "investment_bank",
  "sourceTypeLabel": "Investment bank",
  "presentationDate": "2021-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.7777778,
  "pageNumber": 31,
  "pageCount": 50,
  "prevPage": 30,
  "nextPage": 32,
  "slideType": "business_model",
  "function": "analyze_data",
  "density": "overcrowded",
  "nDataPoints": 2,
  "notes": "Uses a before-after comparison to justify a new financing strategy.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de511-ccc1-722b-a0cf-130f4aac043c/31",
  "deckHref": "/decks/019de511-ccc1-722b-a0cf-130f4aac043c",
  "deckJsonHref": "/decks/019de511-ccc1-722b-a0cf-130f4aac043c.json",
  "deckAnchorHref": "/decks/019de511-ccc1-722b-a0cf-130f4aac043c#slide-31",
  "components": [
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.52,
        "y": 0.41
      },
      "kind": "chart",
      "text": "Asset Financing: Illustrative levered vehicle purchase",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "01a3e94f-f9f9-4a3f-aadd-94c7a0cf32fd",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.45,
        "w": 0.45,
        "x": 0.04,
        "y": 0.41
      },
      "kind": "chart",
      "text": "Status Quo: Illustrative unlevered vehicle purchase",
      "attrs": null,
      "subkind": "bar-vertical",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "709f5a5d-a909-4398-ab54-c3239178256e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.55,
        "x": 0.03,
        "y": 0.92
      },
      "kind": "disclaimer",
      "text": "Note: Cash flow diagrams illustratively based on period from Mar-2021 through Jun-2022... 1. Facility with Apollo... 2. Based on illustrative $650 cost... 3. Based on illustrative $650 cost financed at 70% LTV and 50% net revenue repayment.",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "8efbac1f-66d0-4bae-bff1-d2c9d7b90b6a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.88,
        "x": 0.06,
        "y": 0.14
      },
      "kind": "list",
      "text": "Financing for vehicle CapEx enabled by Bird's multi-year track record of vehicle retention and revenue from tens of millions of global rides. Further unlocks equity returns by nearly 50% and matches Bird's cash outflows to when vehicles generate the most cash. Asset-level debt supports Bird's global growth ambitions without the restrictive covenants of a traditional credit facility. $40M fully committed facility with Apollo this year, with path to larger facility to fund majority of vehicle CapEx in 2022 and beyond.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d88ffc4c-446a-492a-84da-257da2216758",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.12,
        "x": 0.83,
        "y": 0.62
      },
      "kind": "metric",
      "text": "117% IRR",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "22034b5d-f866-4299-989e-f06bb4d46195",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.12,
        "x": 0.33,
        "y": 0.62
      },
      "kind": "metric",
      "text": "74% IRR",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "a998d275-6829-4cc9-82d0-6765efb29b53",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.85,
        "x": 0.03,
        "y": 0.05
      },
      "kind": "title",
      "text": "Asset financing facility secured to fund future vehicle CapEx",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "cae5560e-d13f-4bcd-8e0f-3b242e1b75ac",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "e56b651e-184d-4c1b-bd79-033da265c6ab",
      "evidence": "chart/waterfall: Asset Financing: Illustrative levered vehicle purchase chart/waterfall: Status Quo: Illustrative unlevered vehicle purchase",
      "confidence": 0.8
    }
  ],
  "frameworks": [
    {
      "name": "before-after-framing",
      "slug": null,
      "matchId": "739aaa03-152a-4676-8e94-39b0446b9576",
      "evidence": "Comparison of Status Quo vs Asset Financing to show IRR improvement",
      "confidence": 0.9
    }
  ],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}