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  "notes": "Includes details on PIPE investment, pro forma enterprise value, and ownership breakdown.",
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      "text": "LIVEWIRE VALUATION: Transaction implies a pro forma enterprise value of $1.77 billion; post money equity value of $2.31 billion; 1.0x 2026E revenue of $1,769 million and 16% of Harley-Davidson’s current enterprise value; Experienced public company management team focused on achievability of financial projections",
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      "text": "LIVEWIRE TRANSACTION OVERVIEW: AEA Bridges Impact Corporation (“ABIC”) entered into business combination agreement with LiveWire; Attractive risk-adjusted investment opportunity in EV space; aligns with UN Sustainable Development Goals; Transaction partner KYMCO, a Taiwanese motorcycle & sport vehicle manufacturer, helps accelerate penetration in key global markets and light motorcycle & scooter segments via low-cost manufacturing; Transaction expected to close in H1 2022; LiveWire will trade on the NYSE under ticker LVW",
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      "text": "LIVEWIRE CAPITAL STRUCTURE: Transaction financed by ABIC’s $400 million cash held in trust, Harley-Davidson’s $100 million PIPE investment, and KYMCO’s $100 million PIPE investment; Financing yields $545 million of net cash proceeds – funds strategic plan to accelerate go-to-market strategy, invest in new product development, and enhance global manufacturing & distribution capabilities; Harley-Davidson backstopping up to $100 million in redemptions; commitments from Harley-Davidson, KYMCO, and ABIC will satisfy minimum cash condition",
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      "text": "Harley-Davidson's LiveWire EV Motorcycle Business to Combine With AEA-Bridges to Create Separate Public Company",
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