Cardoboard packagin for food&beverage

Below I will report a brief update on my deal in the cardboard packaging sector, a target that we are going to acquire with the search fund vehicle Sprint Capital of which I am the manager. We have signed an LOI with the seller with the following terms: - EV of 16 million, equal to 6X adjusted EBITDA (2,600K, 22%); - 15 million at closing; - 1 million earn-out at the 2021 Ebitda target with a linear reduction model - 1.5 million reinvestment by the seller We have agreed on a senior debt of 8 million. Furthermore: - we are collecting commitments for a total collection equity of 6 million; - we offer 500K euro units, with 50K entry chip, 50% step-up conversion (there is flexibility in evaluating fractions of units) - commitment collected to date: 40% of the target; In attachment you find a blind teaser on the target and the deal. I am available for an in-depth call. See you soon, Manuel Piccinato Sprint Capital